In order for a partnership to be profitable, each person involved should possess a similar vision for the project while bringing a unique expertise to the table. Learn what to consider when contemplating partnering on your next rehab before you dive in. 1. Assemble the Right Team A successful partnership starts with the right people.
There are several unpredictable factors that can delay the completion of your project. The worst thing you can do when you realize you are not going to meet this deadline is default your loan. Knowing how to act when these situations arise can save you money, avoid harsh penalties, and prevent you from potentially losing
You found the deal to move forward with, next step is to seek out a loan to help you finance your new project. The excitement of a new project sets in and you can’t wait to get to the final product, but how do you reassure yourself that you are receiving the appropriate funding to get
The end of the hot spring market is approaching. If you have not put your investment on the market yet don’t panic, here are some Summer investing tips to keep in mind that will give your property the value and appeal it needs to sell as the market slows down. Always keep in mind that
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
Before choosing your hard money lender, make sure you know exactly who you’re getting involved with. Some lenders will have hidden fees and policies that you won’t discover until you get the preliminary HUD. In order to avoid this, there are some crucial questions to ask before you sign any loan documents. 1) What are
Real estate investors tend to have a few different options when it comes to financing a project, so why is a hard money loan the best option? Here is a snapshot of the benefits you’ll receive when you work with a hard money lender over a traditional bank loan. Fast closings Since hard money lenders give
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
In Part 2 of our Risky Business series, see more common mistakes that borrowers can make when utilizing hard money lending, and get tips on how to avoid them. Value the Property: Be reasonable with the value of the property. Pushing the market by listing the property for a higher price increases the risk of
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.
