This week Kevin breaks down an example deal and explains some of the hard money loan metrics he uses to analyze them. Example: There’s a property for sale for $250,000 and it needs $50,000 in repair. The estimated ARV as presented by the investor is $400,000. Here we’re going to analyze the deal making sure
Drawbacks of 100% Financing If you are planning on borrowing funds for your first (or next) flip, you have an important decision to make – will you use 100% financing or invest your own money into the project? 100% financing has a nice ring to it, but the reality is that these loans have major
On March 30, Jared Fausnaught, DrWCP, was asked to speak on a panel to local Keller Williams real estate agents. After the panel, the more than 60 attendees were eager to get their hard money questions answered. Here are a few of the top questions, and our responses. Please reach out to us if you
Every real estate investor has to deal with finding the right balance between time and money during their deal. Every deal is different, and, as an investor, you will always have to make decisions that will ultimately alter the timeline or budget of the project. Keeping both your time frame and budget within your goals
When you decide to invest in a property, it’s extremely important that you have a solid, fool-proof scope in mind before you move forward. Private lenders will need to review your scope of work, proposed draw schedule, among other important factors, such as the estimated after repair value (ARV). Asset based lenders focus on the numbers
RealtyTrac recently released an on the 5 habits of highly profitable home flippers. While there are several different factors to consider when flipping a property, these 5 habits are an excellent place to start. We have taken these national standards and compared them to those in our local Washington, D.C. metro area market. Be aware that
Working with a hard money lender isn’t rocket science. As long as you follow along with basic rules of real estate investing, your loan and your property should pan out as you expect. However, there are 3 terminal mistakes borrowers can make while dealing with hard money loans and investment properties that can immediately ruin
When it comes to real estate investing, properties can truly be transformed if everything is done correctly. A small, 3-bedroom, 1 bathroom with a one-car garage built in 1980 can become a 5-bedroom, 2 bathroom luxury home with a 2-car garage in a matter of months. We have seen structures that are barely standing become
Have you considered working with a Hard Money Lender, but are a little leery of the process? First and foremost, in order to answer the questions you should expect from a hard money lender, you must fully understand your deal. If you know the specifics of the property and the estimated repair budget, you’re in
We have the experience and team ready to be your partner. Contact us today and learn why real estate investors choose to work with WCP for all of their funding needs.
