Recently we’ve been getting many phone calls from rehabbers looking for an alternative to their current hard money lender. Curiously, the reason for wanting to switch is almost always the same. These borrowers are tired of dealing with an out-of-state company and want to work with someone local.
Hard Money Blog: Invest, Revitalize, Create, Prosper
Finding Real Estate Deals: HUD Homes
This article is continuation of our series on finding profitable real estate deals. We’ve already discussed the REO route and its pros and cons. However, there is one type of REO that is quite different from the rest. In my experience as a private mortgage lender, this route offers unique opportunities for real estate investors. I am talking about HUD properties. Such opportunities don’t come often, but some of the most profitable rehabs we’ve seen came via HUD properties.
How to Build a Great Investment Team: Part 6
Real Estate agent is an essential part of your investment team. Perhaps the most important piece of advice I can give you as a private mortgage lender is to find an agent who specializes in working with investors. The truth is that representing an individual who wants to purchase a home to live in and representing a real estate investor is VERY different. It requires different types of skills that not every Realtor might have.
Dealing with Risk in Real Estate Investing
One of the questions we get a lot, especially from new real estate investors is, “How do I deal with risk?” I wish investing was a sure thing, but there really is no such thing as a “sure thing.” There is always the possibility of losing money just like there is always a possibility of making money. It’s all about dealing with risk. But you can help minimize that risk by using experienced hard money lenders. Here are some other tips for handling risk in your investments.
How to Build a Great Investment Team: Part 5
Have you ever heard the phrase “It takes a village to raise a child?” As we continue our private mortgage lender series on building a great investment team, it may feel like we are truly recruiting a village. Today we will focus on a team member you may not have thought about, the interior decorator. Unlike a real estate agent or contractor, interior decorators might not be necessary for each project. However, for certain fix and flips, spending money on interior decorator might actually help improve your return on investment.
How to Build a Great Investment Team: Part 4
As hard money lenders, we cannot overemphasize the importance of finding the right contractor. A reliable contractor can significantly improve your return on investment. In contrast, an incompetent contractor can flush your profits down the drain. If you are a first time investor, finding a reliable contractor should be your priority.