Flip & Investment Property Checklist
In a previous blog we reminded investors to consider the cost of landscaping in their overall evaluation of the property. Remembering to do this helps determine the renovation cost, loan amount, property list price and the potential profit. There are however, a few more things flippers and landlords often forget to inspect or consider prior to the purchase, here’s a helpful list of things to remember.
- Exterior features such as siding, brick and stucco
- Septic, well and indoor plumbing
- HVAC system
- Foundation and concrete work
- Decking/railings, banisters and other features which may pose a safety concern
- Any back taxes owed on the property
- Homeowners association fee
Additionally, if you’re going to rent the property or you are a landlord to the property you’ll want to factor in these things as well:
- Heating and cooling costs
- Routine maintenance
- Legal expenses (should you have to evict a tenant, etc.)
Have an eye on your next investment project? Join the hundreds of other investors who are applying for and receiving funding right from our website! Call or text today if you have questions or would like to speak to a hard money lending expert. 203-974-3322.
Pennies to Profits
How to Jump-Start Your Career in Real Estate
You may think you need a big pile of cash to jump start your career as a real estate investor. You know that not having a large amount of capital means you’ll likely need to borrow money to get started. Maybe that’s why you haven’t started, the entire traditional lending process can certainly be intimidating. However, let’s explore some ways you can turn your pennies, into properties and begin profiting in a short amount of time.
As mentioned, lending from a bank can mean some pretty ridged restrictions. For example, you may be required to put a certain amount of money down, your credit and income will be scrutinized and the overall process is time consuming. So, what do you do when you’re good for the money, but not in the eyes of a bank? Consider a private lender.
Securing money from a private lender is one of the fastest options available. We all know, time is money. The more time you save, the sooner you can buy, flip, rent or sell the property for a profit. One reason why lending from a private investor is faster, is because it’s not as complex. Private lenders put heavier consideration on the property to be invested upon rather than the investors income and credit history.
This can benefit you especially if you’re a first-time investor. Imagine having an entity with strong financial analysis and business analytical chops look at your investment and approve it. It’s validation that you’re likely to succeed in your new business venture. Of course, your success still relies on your ability to flip, rent, sell, etc. while meeting market demands, but a little reassurance never hurt anyone.
But how do you find a private lender and apply for a private loan? Start right here, at lendsomemoney.com. The application is quick and painless. You could be approved in as little as 24-hours. Our system is set up so that if we can’t approve your loan, someone in our network most likely can. Don’t wait, get the funding you need for your future, today!