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Finding Your Next Flip By Checking Out the Inventory

If you’ve decided to buy a house that needs some TLC, fix it, and sell it, you need to narrow your choices right off the bat.

That means you need to decide what type of inventory you’re going to focus on.
What is Real Estate Inventory?
Inventory is the term that refers to all the houses for sale in a particular category (like two-bedroom, one-bathroom houses or four-bedroom houses with three-car garages).
Why You Need to Look at ALL the Inventory
If you’re going to buy a house to fix up and sell, you need to look at all the inventory in the city. See what’s selling quickly, what sells the most, and what’s not selling. You want to find the right spot – a price range and home style that moves quickly and at competitive prices – before you make an investment.

If most of the houses in your city are selling at $150,000 and they all have three or four bedrooms and sizeable yards, then that’s probably where you want to start looking for deals.

Your real estate agent can help you find “distressed” homes – those that are in need of some work before a buyer will come along and fall in love.
Are You Looking for a Hard Money Loan to Buy a Property?
Call us at 404-814-1644 or contact us online to find out whether you might qualify for this type of funding. In the meantime, check to ensure that you meet our loan criteria. Our loan amounts can be up to 65 percent of the after-repaired value of the collateral—and if you use the loan for renovation or construction, the loan amount can be based on the collateral’s improved value.

Read our frequently asked questions and take a few minutes to learn about the hard […]

Before You Buy Your Next Fix-and-Flip…

If you’re like many people, you’ve toyed with the idea of buying a house, fixing it up, and selling it to another buyer – all for a tidy profit.

But before you buy, here’s what you need to know.
Before You Buy Your First Fix-and-Flip
Naturally, you need to plan ahead and make sure you can secure the financing you need to buy a home that you can fix up and sell. (Many people do this by getting a hard money loan.)

From there, you need to check out the local inventory. It’s best to do this with a local Realtor® who understands what you’re trying to do and who can find (and get you access to) properties listed in your price range that need a little TLC.

Check out the area, too. Is there a particular part of town you want to focus on because homes sell better there? Is there an area you want to avoid? Doing a little research now can save you a big headache (and lots of money) later.

Once you find the right house, figure out your offer. Your real estate agent can help you determine what’s right when it comes to making an offer, so listen to his or her experience!
Are You Looking for a Hard Money Loan to Buy a Property?
Call us at 404-814-1644 or contact us online to find out whether you might qualify for this type of funding. In the meantime, check to ensure that you meet our loan criteria. Our loan amounts can be up to 65 percent of the after-repaired value of the collateral—and if you use the loan for renovation or construction, the loan amount can be based on the collateral’s improved value.

Read our frequently asked questions and take a few minutes […]

What is “Turn Key” Real Estate?

A turn key property is one that’s ready for move-in as-is, no improvements or repairs necessary.

How “Perfect” is a Turn Key Property?

The term turn key doesn’t mean a property is perfect – no house is. Instead, it means that buyers can move into it without making any repairs or improvements… which is basically what buyers expect in the first place.

And that’s where you come in.

As a real estate investor, it’s your job to make the home as marketable as possible so you can sell it quickly (and at the right price).

That includes ensuring all appliances are in working condition, and that there aren’t any obvious or in-depth issues with the house’s structure, electrical system, or plumbing system. That goes for the HVAC system and every other system in the house, too.

Your buyers will still most likely need an inspection, even if you and your agent are marketing the property as “turn key,” so it’s always best to make sure it really is move-in ready.
Are You Looking for a Hard Money Loan to Buy a Property?
Call us at 404-814-1644 or contact us online to find out whether you might qualify for this type of funding. In the meantime, check to ensure that you meet our loan criteria. Our loan amounts can be up to 65 percent of the after-repaired value of the collateral—and if you use the loan for renovation or construction, the loan amount can be based on the collateral’s improved value.

Read our frequently asked questions and take a few minutes to learn about the hard money loan process.

  • staging a rental property - atl hard money
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    Should You Stage an Investment Property if You’re Going to Rent It Out?

Should You Stage an Investment Property if You’re Going to Rent It Out?

If you’re renting out an investment property after buying and improving it, you may want to stage it… because staging it could help you fetch a higher monthly rental price.
Staging a Rental Property
You’ll have to weigh the costs and benefits of staging a property that was empty. You certainly have to make sure it’s spotless (no scuffs on the floors, dings in the walls, or cobwebs in the corner) and clutter-free, but the logistics of staging a rental property may mean it’s not worth the effort.

Remember that you’ll have to find suitable furniture and then:

Move in furniture yourself (or pay someone to move it in)
Decorate the walls, which results in more work when you have to take down the decor and patch up nail holes (although Command Strips are definitely a worthy investment)
Move the furniture out before your tenants move in

If you were selling the property rather than renting it out, it might make a little more sense to stage it – you’d be asking people to make a bigger investment, so you’d have wiggle room to put in more money and effort.
Do You Need a Hard Money Loan to Buy an Investment Property?
Call us at 404-814-1644 or contact us online to find out whether you might qualify for this type of funding. In the meantime, check to ensure that you meet our loan criteria. Our loan amounts can be up to 65 percent of the after-repaired value of the collateral—and if you use the loan for renovation or construction, the loan amount can be based on the collateral’s improved value.

Read our frequently asked questions and take a few minutes to learn about the hard money loan process.

Apps for Homebuyers

If you’re getting ready to buy a house, you may be wondering where to start. With advancements in technology, you won’t have to look much further than your phone. Mobile technology can help you find a knowledgeable Realtor®, calculate a budget, connect you to the Multiple Listing Service, and much more. Here are some useful apps for homebuyers.

Finding an Agent

The home buying process can be daunting at times. It’s a good idea to work with a qualified Realtor who can help you through the process. Most real estate professionals are referred by previous customers; however, they’ve changed the game in their marketing, and are now easier to reach than ever.

If you’re house hunting and driving by for sale signs, you’ll probably see the agent’s link to their website, or a text code to their own mobile app. You’ll find other apps, like Yelp, that will give you easy access to agent reviews.

Mortgage Calculator

Before you set out, you can find current mortgage rates, and get an estimate of how much home you can afford. Companies such as Bankrate and Quicken loans offer apps that can get you real-time information at just the touch of a button.

Multiple Listing Service (MLS)

You can get the most current listings with an MLS app. While there are many out there, technology is changing the way you can connect with your Realtor and get up-to-date information. Apps such as Homesnap allow you to search for information on a home—just by snapping a photo of it. It also allows you to interact with your agent without using multiple channels of communication.

Call us at 404-814-1644 or contact us online to find out whether you might qualify for this type of funding. In the meantime, check […]

Buying a Foreclosure With Tenants

Purchasing a foreclosed home can be a great investment opportunity. Whether you’re taking occupancy yourself, or leasing the home to tenants, you’ll most likely see some gains from your purchase. But, what if the foreclosure already has renters taking up residence?

If you’re considering purchasing a foreclosure with tenants, you’ll first need to decide whether you’re going to live there, or continue renting it. Depending on the location of the home, there may be some state and local laws in place that will determine how you proceed. If there is a lease, tenants may be protected in a foreclosure situation.

Currently, Georgia allows renters to be immediately evicted, whether you’ll occupy the home or not. Some other states afford grace periods depending on how the property will be used. If you’re outside of Georgia, and there is an established lease, you may have to continue the terms until the lease expires. If the tenant is in a month-to-month situation, you may also have to give certain notice to vacate.

In most cases, the current tenant has been abiding by their lease and paying their rent, so they’re probably under the assumption that the bills are being paid. Unfortunately, the tenant becomes a victim in these matters, and finds out too late.

It may be a good idea to give notice to the tenant, especially if they’ve been following the lease terms. Angry tenants can set your goals back by possibly damaging the property, filing lawsuits, or even refusing to leave. Protect yourself by carefully following the eviction laws for your state.

Call us at 404-814-1644 or contact us online to find out whether you might qualify for this type of funding. In the meantime, check to ensure that you meet our loan […]

Critical Areas to Inspect When Buying a House

If you’re like most people, your emotions sometimes cloud your judgement. While there’s nothing wrong with that in most cases, you can’t let your emotions get in the way when you’re a real estate investor.

There are some critical areas of a property that you’ll need to inspect—sometimes twice—to make sure you’re not falling into a money pit. Even if your inspection gets the green light, you may want to call a specialist for a second opinion. Here are some areas that could use a more thorough inspection:
Foundation
A home inspector will search for visible signs of foundation problems. They’ll check for cracks, deformations, and uniform settlement. If you suspect any problems, or if the inspection shows some areas of concern—you may want to get a second opinion. Spending some additional money on a licensed structural engineer, prior to buying the home, could save you time and money.
Heating, Ventilation, and Air Conditioning (HVAC)
The HVAC system in a home usually undergoes an unremarkable inspection during the home buying process. The equipment is investigated for the potential to heat or cool a home, but there’s usually a lot more to it. For an in-depth inspection that will tell you how the equipment is functioning, you may want to call an HVAC expert to do a check-up.
Plumbing
There is nothing taken for granted more than a home’s plumbing system. If the water comes from the faucets, and the toilets flush; it’s easy to assume that everything is in working order. It may be a good idea to have the home’s main septic line inspected by a professional plumber before you purchase a home. A plumbing pro can perform a more thorough inspection than a home inspector.

Do You Need a Hard […]

What is Working Capital?

Working capital, at least as it pertains to the real estate investing business, is money that you can use to fund improvements on an investment property.
Why People Choose Hard Money Loans for Working Capital
Because a hard money lender can provide working capital quickly, many people choose this route when investing in a property in Florida, Tennessee, and Georgia.
How Do You Calculate Working Capital?
Working capital is your current assets minus your current liabilities. For example, if you have $200,000 in assets but $195,000 in current liabilities, you have $5,000 in working capital.
How A Hard Money Loan Can Help You
When you borrow from a hard money lender, you get up to 65 percent of the home’s after-repaired value, or ARV. That means if you’re flipping a home that, when repaired, will be worth $100,000, you can borrow up to $65,000 to work on it.

Do You Need a Hard Money Loan in Atlanta, Nashville, or Florida?

If you’re an investor who needs a hard money loan, we may be able to help you. Check out our loan criteria to find out whether this type of financing is right for you, and be sure to explore our hard money loan FAQs.

You can apply for a hard money loan online or you can contact us at 404-814-1644.

 

 

What’s a Bridge Loan?

A bridge loan may be what you need until you secure permanent financing – but what is it, and how could it help you?
What is a Bridge Loan?
A bridge loan is a short-term loan that you can use to bridge the gap between securing permanent financing or to remove an existing loan obligation that you already have.

This type of loan provides immediate cash flow.
How Long Does a Bridge Loan Last?
A bridge loan is typically very short-term. (Sometimes they last about 12 months.)
How Do You “Secure” a Bridge Loan?
Typically, bridge loans are secure debts – and they’re secured by a form of collateral. That means your house or another asset serves as collateral so you can borrow using a bridge loan.
Do You Need a Hard Money Loan in Atlanta, Nashville, or Florida?
If you’re an investor who needs a hard money loan, we may be able to help you. Check out our loan criteria to find out whether this type of financing is right for you, and be sure to explore our hard money loan FAQs.

You can apply for a hard money loan online or you can contact us at 404-814-1644.

 

  • What to Ask Sellers if You're Not Using a Realtor
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    5 Questions to Ask Sellers if You’re Not Working With a Realtor(R)

5 Questions to Ask Sellers if You’re Not Working With a Realtor(R)

Most real estate investors choose to work with a Realtor® who handles the negotiation process for them. However, if you’re one of the REIs who likes to call sellers and establish a relationship without using a real estate agent, here are five questions you need to ask property owners to begin negotiations.
5 Questions to Ask Sellers

How long have you lived in the home? This is generally just a good icebreaker.
How do you like this neighborhood? This is a great way to get a better feel for the community, and it’s another way to encourage the seller to give you information.
What do you like most about this home? This is a great question to ask if you want to start formulating selling points for later – and it can also help you determine whether the home will be a good fit for your investing needs.
What types of repairs will be necessary if I purchase this home? Naturally, you’ll have a home inspector come out and evaluate what needs to be done – but it’s a good idea to get the information straight from the horse’s mouth, so to speak, if you’re thinking about purchasing a property as an investment.
How quickly do you want to sell? In addition to creating your own timeline of events, knowing how motivated the seller is will help you determine the type of financing you’ll need.

Do You Need a Hard Money Loan in Atlanta?
If you’re an investor who needs a hard money loan in or around Atlanta, we may be able to help you. Check out our loan criteria to find out whether this type of financing is right for you, and be sure to explore our hard money loan FAQs.

You can […]

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