New Funding Resources 
Leo Tolstoy said: “Happy families are all alike; every unhappy family is unhappy in its own way.” As a hard money lender with over twelve years of experience, allow me to wax poetic about my area of expertise. All successful rehab transactions are alike; every unsuccessful is unsuccessful in its own way. Today I want to share a cautionary tale of how title issues after a foreclosure auction can impact a deal.
Hard Money Blog: Invest, Revitalize, Create, Prosper
Amazing Buy-and-Hold Opportunity in Montgomery Co. – GONE
48 Michael Ct Gaithersburg MD 20877 Offered at $150,000 Condo fee: $293 Rental Income: $1,600+ The only four-bedroom condo in the subdivision! Year built: 1973 Property type: condo/townhouse Levels: 2 levels Living area: 1,365 Assigned parking and plenty of visitors Bedrooms: 4 Bathrooms: 2 ½ CALL OUR SENIOR UNDERWRITER MELISSA FOR DETAILS. 240.436.2340 […]
How To Estimate Your Rehab’s After Repair Value (ARV)
If you are a rehabber, one of the skills you need is to be able to estimate your rehab’s after-repair value accurately. It’s essential in understanding your deal’s profit potential. Make a mistake, rely on wishful thinking or count on appreciation and – poof! – you are lucky to get out by the skin of your teeth. If you are planning to work with a hard money lender, your rehab’s after-repair value (ARV) becomes a part of underwriting. Hard money lenders base their loans on the after-repair value and not on its purchase price or as-is value. So another reason to know how to estimate your rehab’s ARV correctly is to know how much of a loan you can qualify for.
How To Determine the After Repair Value Without a Realtor
Let’s not beat around the bush. The best source of real estate information is the Multiple Listing System (MLS). Fortunately for the licensed real estate agents and unfortunately for the real estate investors who are not licensed, only realtors have access to it. The good news is that today you have more information than ever floating around. It might be not as nuanced as MLS’s, however, if used correctly, it can help you determine your rehab’s after repair value without a realtor.
Amazing Rehab in Opportunity! – SOLD
Gwynns Falls Pkwy, Baltimore, MD 21216 With questions, please call Melissa or Kyle at 240.436.2340.
How To Get Seed Capital For A Hard Money Loan
Some starting capital is essential to qualify for a hard money loan. This is a topic that we discussed at length in our previous articles (see our blogs on Why No Money Down Hard Money Loans are a Pipe Dream and Why Private Mortgage Lenders Want You to Invest in Your Deal). The reason for it is simple: the lack of seed capital is the primary challenge for many new real estate investors. However, as with everything else, where there is a will there is a way.
Among the many benefits of working with a hard money lender like us is the flexibility of our underwriting. Our hard money loans are not credit score driven, and we don’t verify our borrowers’ income. When it comes to borrower’s contribution to the transaction, we accept a more diverse variety of sources than traditional lenders.
