Phone: 240-436-2340
Maryland Hard Money Lenders. Private Loans in Maryland, Virginia & Washington, DC
Working with a private lender can offer several advantages compared to traditional lending institutions. Quick access to funds, lending criteria flexibility, and streamlined underwriting are just a few of them. But like everything else, private lending and hard money loans come with their own risks. To know them is to manage them. So let’s talk about the risks of working with private lenders and how real estate investors can minimize their on their bottom line.
The kitchen is the focal point of any home. Whether you are renovating a property for sale or rent, it’s where you, as a rehabber, are likely to spend the most money and effort. It’s also the place where your buyer or new tenant will be spending most of their time basking in the warmth, security, and domesticity of their “hearth.” So much of their decision to make an offer or fill out that rental application depends on whether they like that “hearth” or not. So let’s talk about how to make it more appealing by choosing the right countertops for your new kitchen.
Our borrowers employ different strategies to find homes to invest in. One such strategy is working with wholesalers. While I am personally not the biggest fan of wholesalers, I have to admit that many of our borrowers have made money working with them. So let’s talk about real estate wholesalers, who they are, how they can help you, and the risks of working with them.
I have recently stumbled on online advertising that promises “a passive income of at least $5,000 a month” after buying their magic real estate investing and rental program course. Guaranteed, and no experience is required. Really? I have been investing in real estate for years and have a decent portfolio of properties right here in Montgomery County, but I am yet to see numbers like this. Yes, my real estate portfolio’s value increases year-after-year, my mortgage balances go down and it’s an integral part of my retirement plan, but I am not yet relying on it to generate any income, let alone “passive.” So what gives?
Pricing a renovated property for sale is a delicate balance between setting a fair price and ensuring a good return on investment. The price of your rehab should reflect such factors as the current market conditions, the location of the property, the quality of the renovation, and the features of the property. As a private lender in Maryland, I do understand that is often easier said than done. We’ve seen too many borrowers whose properties linger on the market with very little activity, while other investors hit the ball out of the park again and again with the spot-on rehab pricing strategy. So let’s try to unpack the most common mistakes and the best practices for pricing your rehab just right.
Let’s talk about a hard money loan requirement that typically gets little attention – property insurance. Because the appropriate insurance is an essential condition to a private loan closing, the process of obtaining that first coverage is relatively smooth. Once we guide our borrowers through what kind of insurance they need as real estate investors, they quickly and easily purchase an appropriate policy. However, it’s when that initial coverage expires, the issues often start.
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New Funding Resources, LLC
806 West Diamond Ave.
Suite 340
Gaithersburg, Maryland 20878
Phone: 240-436-2340
All loans subject to our review of underwriting criteria and conditions. We reserve the right to approve or deny any loan application based on our sole discretion.
New Funding Resources 