Fix and Flips are a favorite of the real estate investor and a perfect fit for the hard money loan. Simply put, buying a property that needs a facelift then quickly getting renovations done and back on the market is a great way to quickly increase wealth. Leveraging a hard money loan makes this scenario viable for many. A hard money loan funds quickly and leverages the value of the property as collateral on the loan. Using a hard money loan, an investor can grab a property quickly and then, with a good crew of contractors, renovate and sell it again, all within a matter of weeks.
When working on a real estate investment flip, cosmetics are very important - this is what your typical buyer will notice first. Many times, an investment flip is an older home, it may or may not need extensive physical repairs, but very likely it will have a dated appearance. This is where you get to put in an updated bathroom and kitchen, and new flooring and suddenly it’s a nice, modern home. New cabinets and tile, new countertops and hardware - these are sure fire hits with your buyers.
What about wall colors? The best approach when it comes to paint for your investment flip is to play it safe! Now is not the time to unleash your fierce designer inner spirit animal. Save that for your own home.
At Freedom Private Money, the 4th of July means a lot to us! As a veteran-run business we cherish the many freedoms we enjoy here in the U.S.A.!
We believe that together we can ALL achieve the American dream. Whether your goal is to own 100 rentals, flip 100 houses or become
the best real estate agent or wholesaler in the world, Freedom Private Money wants to help you attain those goals. Give us a call and let's talk about real estate goals and your financial freedom.
From all of us at Freedom Private Money, we hope you have a great 4th of July holiday!
P.S We are closed on July 4th & 5th, but we will be back in the office on
Monday, July 8th
Chris, CEO of Freedom Private Money fields a lot of questions from investors. Recently, one of the questions was about properties that are already listed on MLS. Are they something the real estate investor should be looking at? Can an investor come out on top when making an offer on an MLS listing?
There are a couple good strategies that Chris recommends. When dealing with a property that is listed on MLS, it’s important to keep in mind you will need to make the deal attractive to the seller to get the pricing needed for it to be a wise real estate investment.
The buyer/investor can differentiate his offer - even if it’s a low offer - by offering a cash deal and a short closing timeline. Keep in mind, in this scenario it’s important to let the title company know that private financing will be used.