Hard Money How To's

How to Negotiate with a Private Lender

October 7, 2022 by Kyle Sennott Leave a Comment

**To negotiate with private lenders on pricing, you need to convince them that your transaction is worth their risk**

Flipping homes can be a profitable side gig or a fulfilling career. Whether you are investing in real estate full-time or part-time, growing your profits depends on maximizing the value of each vendor you are working with. On the one hand, it’s paramount to control your costs. On the other hand, you need to ensure that your vendors are motivated to be reliable, fast, agile, and creative. Successful home flipping is a long-term process that involves several vendors. The most important are your real estate agent, contractor, and private lender. Today, let’s explore how to negotiate with your private lender to ensure you get the best deal.

What Is Asset-Based Lending in Real Estate?

March 2, 2021 by Kyle Sennott Leave a Comment

Private lenders (alternatively referred to hard money lenders) are a narrow subset of mortgage companies that specialize in working with real estate investors. The financing that they offer is asset-based. As the name suggests, asset-based financing is financing that is secured against an asset or collateral. Asset-based financing has a long history that goes back to ancient times when almost anything of value could serve as collateral. In modern times, the most common assets for businesses to borrow against are accounts receivable financing, inventory financing, equipment financing, or real estate financing. Our focus is asset-based lending for real estate investors.

Managing Contractors: Four Principles for Success

May 4, 2020 by Kyle Sennott Leave a Comment

To be in real estate investing business, you need to have at least two major skills. First, you need to be a hustler. That means to be able to identify promising fix-and-flip opportunities and put them under contract at the right price. The second, and equally important skill, is being a project manager and having the tenacity to ensure that renovations are completed on time and within the budget. The key to this part is to know how to manage contractors so they meet your expectations. Managing contractors in a way that maximizes your profits and builds long-term relationships with good crews is our focus today.

How to Buy an Investment Property at a Foreclosure Auction without Getting Burned

April 30, 2020 by Kyle Sennott Leave a Comment

If you are a real estate investor looking for distressed properties, one of the logical places to start is a foreclosure auction. Gone are the days when buying at foreclosure meant freezing your butt at the courthouses’ footsteps. Now you can shop for foreclosed properties from outlets such as Auction.home and Hubzu.com wearing nothing but PJ’s. However, many new rehabbers are apprehensive about buying at an auction and for good reason. If you are planning to buy an investment property at a foreclosure auction, you need to understand how this process is different from shopping on the regular market. Not knowing these differences may throw your entire real estate investment strategy out of the window.

Hard Money How To's

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