Hard Money Blog: Invest, Revitalize, Create, Prosper

Five Steps in Creating a Renovation Scope of Work That Rocks

April 25, 2022 by Kyle Sennott Leave a Comment

A solid scope of work is a foundation of any successful fix-and-flip. It helps you accurately estimate your rehab budget. It anchors your relationship with your contractor by detailing the work to be completed and the payment schedule. If you are using a private lender and your loan is based on the after-repair value of the property, it provides the necessary information for the appraiser to appraise the property. Finally, it lays out the groundwork for the draw schedule – a document that outlines what needs to be accomplished for your private lender to release the construction funds.

Eight Ways to Find Contractors for Your Next Rehab

April 8, 2022 by Kyle Sennott Leave a Comment

Finding Contractor for Renovations, Rehabs, and Fix-and-Flips

Are you looking for reliable and affordable quality contractors for your next fix-and-flip? Let me be blunt: I hope you already have some reliable leads to explore. However, even an experienced rehabber might find herself at times without immediate access to a reliable crew. His or her regular crew might be busy with other projects, unwilling to travel to a certain location, or simply no longer available. What are the best venues to find a home improvement contractor in a bind? Here are at least eight ways.

Are You a Contractor or a Realtor Looking to Get Into Real Estate Investing?

March 31, 2022 by Kyle Sennott Leave a Comment

Contractors or Realtors Getting Into Real Estate Investing

If you are a real estate agent or a home improvement contractor, sooner or later you will be having the following thoughts: “I see my clients making money in real estate. I am an essential part of these transactions. Shouldn’t I try to strike it on my own and keep the profits I am helping my clients make for myself?” First of all, I am glad you are having these thoughts. As a self-employed entrepreneur, it’s part of your job to always think always ponder new money-making opportunities. And under the right circumstances, the answer to that question might be a resounding “Yes!”

Modular Homes: Worth the Investment?

March 28, 2022 by Kyle Sennott Leave a Comment

Modular Homes. Are they worth the investment? — **Modular homes** are built in sections in a factory setting in a matter of weeks using new technologies such as 3-D printing.

Real estate investors in the Washington D.C. area don’t like to miss out on an investment opportunity. Yet the opportunity to invest in a modular home might make them think twice – as it should. Are modular homes a good investment? When compared to stick-built homes, how do modular homes stack up? Are they sturdy and well-built? Is there a demand for them in the DMV area? Do they gain or lose value over time? Essentially, real estate investors need to know if modular homes are a solid investment. Here are some straightforward answers for Washington D.C. area rehabbers planning to fix and flip a house or investors/landlords planning to buy and hold.

Property Survey: Know the boundaries before you buy

March 28, 2022 by Kyle Sennott Leave a Comment

Property Surveys and Real Estate Investing: What Should You Know

Knowing your property’s boundaries can make or break an investment opportunity. Most investors have a general idea of where a real estate property begins and ends. But how can they be sure? Real estate investors can get the facts they need by having the property surveyed.

You need a property survey to ensure the property you are buying does not have hidden defects that will come to haunt you later. Sometimes the seller is genuinely not aware of those defects, and sometimes, they do know and don’t want you to find out.

Let me give you a couple of examples when we were fortunate to find those defects before closing.

Septic & Well: What to Know Before Purchasing Property

March 17, 2022 by Kyle Sennott Leave a Comment

Septic and Well: What to Expect When Purchasing an Investment Property — What should an investor watch for when purchasing properties with septic systems and private wells?

Before purchasing a house, smart investors look closely at the foundation, roof, siding, and mechanical systems like the furnace, water heater, and electricity. In the best scenarios, the building structure and mechanical systems have years of useful life ahead. In other scenarios, the house needs to be fixed or replaced.

Hard Money Blog: Invest, Revitalize, Create, Prosper

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