Flipping

Great Investment or Money Pit? Watch for These Two Problems

 

Currently the housing market offers great buys for investors. However, sometimes a house is not as it appears. Naturally, you want houses that are in good condition, or need a small amount of work, to be able to make a fast turnaround. Unfortunately, many times something is not discovered until after the purchase is completed.

A foundation is the basis of any house and must be in excellent condition if you expect to avoid spending a great deal of money having it replaced or repaired. When looking at the house check the foundation for cracks, crumbling cement or other conditions that will indicate a problem.

Mold in the crawl space or other locations in the house will indicate a leaking water pipe. Molds gradually destroy the things they grow on. They can damage building materials, especially under the floor. In addition, studies have shown it can cause the occupants health problems.

Having a licensed home inspector is a good investment to avoid expenses that can often cause a home purchase to become a money pit.
Do You Need a Hard Money Loan to Buy an Investment Property in Atlanta?
If you’re looking for a hard money loan in Atlanta, we may be able to help you.

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.

Should You Buy a Home Warranty When You Sell Your Flip?

Buyers seem to love a home that comes with a home warranty, so as an investor, should you buy a warranty policy to sweeten the deal?
What is a Home Warranty?
A home warranty is a policy that covers a house’s major systems and appliances when they break down. Although buyers may not need to use it, particularly if you’ve put a lot of work into the house and everything is in perfectly good shape, it can be one of those things that gives people a warm, fuzzy feeling when they’re getting ready to make an offer.
How Does a Home Warranty Work?
If something breaks down in the house, such as the air conditioner or the washer and dryer, the homeowner calls the home warranty company. The home warranty company then sends out a local technician (an expert in the field, whether it’s HVAC or refrigerator repair) and the homeowner pays a flat fee for the call. The home warranty company then covers the costs for parts and labor so all the homeowner forks over out of pocket was the original fee.
How Much Does a Home Warranty Cost?
On average, home warranty plans cost between $400 and $600 for a year of coverage. That means a relatively small investment from you could go a long way to sweeten the deal for buyers.
Do You Need a Hard Money Loan to Buy an Investment Property in Atlanta?
If you’re looking for a hard money loan in Atlanta, we may be able to help you.

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 […]

5 Kitchen Design Trends REIs Need to Know About in 2017

As a real estate investor, you already know that a great kitchen can sell a house—so what makes a great kitchen?

Check out 2017’s five hottest kitchen design trends to find out.
2017 Kitchen Design Trend #1: Grays, Not Whites
Gray is “in” right now, especially with millennials hitting the market as first-time buyers. Combined with rich, stained wood, it’s warm and inviting—exactly what new buyers want.

2017 Kitchen Design Trend #2: Hydraulic Cabinet Doors

Hydraulic kitchen cabinet doors are space-age space-savers, and it turns out they’re just what homebuyers want in 2017. With the push of a button, the door opens in an upward direction and leaves plenty of room in the rest of the kitchen.
2017 Kitchen Design Trend #3: Funky Sinks
Forget stainless steel and think colored enamel. A splash (pun intended) of color in a neutral kitchen makes a huge difference to buyers.
2017 Kitchen Design Trend #4: Big, Bold Fixtures
Oversized light fixtures can be pretty amazing in a kitchen, as long as they’re not clunky or obtrusive.
2017 Kitchen Design Trend #5: Ample Kitchen Storage
Don’t leave any wasted space in the kitchen; you can even turn a false drawer into a great place to stash oddly shaped kitchen utensils.
Do You Need a Commercial or Residential Hard Money Loan in Atlanta?
If you’re looking for a hard money loan in Atlanta, we may be able to help you.

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 […]

  • Should You Include a Home Office When You're Flipping a House in Atlanta?
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    Should You Include a Home Office When You’re Flipping a House in Atlanta?

Should You Include a Home Office When You’re Flipping a House in Atlanta?

As a hard money lender in Atlanta, we see all kinds of projects and ideas flow through our offices.

Something we’ve noticed is that home offices are becoming more popular – and for good reason. The U.S. Census Bureau says that more than 13 million Americans work from home, so it makes sense that buyers are looking for a great office space while they’re house-hunting.
Should You Include a Home Office When You’re Flipping a House in Atlanta?
While you shouldn’t designate any room as an official home office – simply because you could alienate buyers who don’t work from home – it’s a good idea to make any space as versatile as possible.

It’s called flex living space.

“As technology continues to make us more mobile, young buyers have more options than ever to work from home, depending on their job,” says Lou Cardillo, a New York real estate professional. “Having a dedicated space is important because it will help keep them focused and concentrated on work while they are at home on a Skype call, planning a presentation, setting up their workday or simply paying bills.

Ideally, in a home with multiple bedrooms, you can stage one to look like a half-office, half-guest bedroom. The idea of such a flexible living space is attractive (not just to millennials, either), so make sure your real estate professional highlights the appropriate room that way.
Do You Need a Hard Money Loan in Atlanta?
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 out our loan criteria and read our frequently asked questions so you can learn a little more about the hard money lending process.

 

 

How to Find a Great Atlanta Contractor

Flipping a house isn’t a one-person job, and that means you need a great team in place.

But when it comes to Atlanta contractors, how do you know you’re getting the best of the best?
How to Find a Good Atlanta Contractor
If you’re hiring an Atlanta contractor, start asking for recommendations from family and friends. You can (and should) even ask your hard money lender in Atlanta for a few contacts.

Once you’ve narrowed down your list to a few good contractors, start conducting phone interviews. Call and ask:

Do you do projects of this scope?
May I have a list of your previous clients?
How many other projects are you working on right now?
How long have you been working with your current subcontractors?

After you get warm-fuzzy feelings about one or two Atlanta contractors, have a face-to-face meeting.

The right contractor won’t mind answering your questions and making you feel comfortable. However, just because a contractor is nice and has all the right answers, that doesn’t mean he or she is right for the job; you’ll still need to check with the Better Business Bureau and the Georgia consumer protection agency to make sure.

Call the contractor’s past clients and find out how things went; ask if they mind sharing the finished project with you.

Once that’s done, it’s time to make plans and ask for bids. Ask for a complete breakdown, which includes:

Cost of materials
Cost of labor
Profit margins
Other expenses

Good contractors will want to see a complete set of blueprints and an explanation of what you want to see happen.

Don’t rely just on price. If you get a “lowball” bid, you may want to throw it out; that contractor may cut corners to try to […]

2017 Bathroom Trends REIs Need to Know About

If you’re a real estate investor, you need to know all about the 2017 bathroom trends—especially if you expect buyers to fall in love with what you’re putting on the market for resale.
2017 Bathroom Trends for REIs and House-Flippers
This year, much like last year, a bathroom can be a deal-maker or a deal-breaker.

However, the 2017 bathroom trends have taken a turn toward nature. Blending organic with new, shiny, and functional is the way to go this year if you’re a real estate investor.

The bathrooms that capture the most favorable attention will have:

Clean colors
Neat lines
Practical arrangement of space (no more toilets sandwiched between cabinets and showers, if you can help it)
Simplicity
Continuity

Being Bold in Bathroom Design
There’s nothing wrong with making the bathroom more like a luxury spa. If you can find the right fixtures at the right prices (check out our list of the best kitchen and bath showrooms in Atlanta), go for it!
Keeping Things Simple in Bathroom Design
Designers are gushing over faucets made from clay, but you don’t have to spend a small fortune. Look for sinks and faucets with clean, simple, and elegant lines; don’t get anything too ornate if you want to appeal to the widest range of buyers.
Do You Need a Hard Money Loan in Atlanta?
If you need funds for an investment property, we may be able to help you. Call us at 404-814-1644 or send us a note. You can also apply for a hard money loan online.

In the meantime, read our FAQ, learn about the hard money loan process and see if you meet our criteria! We’ll be happy to help you if you qualify.

 

Flip a House in Atlanta: Is it as Easy as it Looks on TV?

Is flipping a house as easy as it looks on TV?

No.

But it’s extremely rewarding… and if you play your cards right (read: you’re smart about it), you can turn a great profit when you flip a house in Atlanta.
Flipping a House on TV vs. Flipping a House in the Real World
Sure, flipping houses on television looks fast and easy. You buy the house, fix it up, and buyers will be lined up at the front door waiting to hand you stacks of cash.

Right?

Not exactly.

If you want to flip a house in Atlanta, you have to be prepared.
How to Flip a House in Atlanta
Before you can buy a house, you’ll probably need funding. That’s where a hard money lender in Atlanta comes in. We can help you get the cash you need quickly so you can pounce on a great deal when you find it.

But there’s more to it than that.

You need a team of professionals who can help you do amazing work; you can’t be a “lone wolf” in real estate investing. Your team should include:

Specialty contractors, such as plumbers, roofers, and others
A real estate professional
A home inspector
A reliable hard money lender located in Atlanta
An attorney

You also need to do more than the bare minimum to get buyers to fall in love with a house. Flipping a house in Atlanta is hard, time-consuming work; you need to put in the right fixtures, make sure the floors are up to par (and there isn’t any asbestos or horrible popcorn ceilings in place), and ensure that everything is working better than it did when it was new.
Are You Flipping a House in Atlanta?
If you want to flip a house in Atlanta or […]

Best Kitchen and Bath Showrooms in Atlanta

If you’re a real estate investor, you know how important it is to find the best kitchen showrooms in Atlanta so you can get the best deals on your fixer-uppers.

We’ve pulled together a list of the latest-and-greatest kitchen showrooms in Atlanta so you don’t have to hunt all over the city (or weed through mediocre showrooms) to find what you need.
Best Kitchen Showrooms in Atlanta
Some of the best kitchen showrooms in Atlanta are a little off the beaten path, but that’s what makes them real gems.

Sub-Zero and Wolf Showroom

Ferguson Showroom

PDI Kitchen, Bath, and Lighting

Porcelanosa Atlanta

Pedini Atlanta

Pirch

Alno

European Kitchen and BathWorks

Spartan Kitchen and Bath Showroom

Atlanta Classic Kitchens

Cantoni
Are You Looking for a Hard Money Lender in Atlanta?
If you’re looking for a hard money lender in Atlanta, we may be able to help you.

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.

 

 

Finding Turn-Key Homes in a Seller’s Market

With TV shows boosting the popularity of house-flipping as a business, people who ordinarily wouldn’t have ventured into real estate investment territory are jumping on the bandwagon.

But if you’ve been in the business for a while, you know this isn’t a get-rich-quick scenario. You know that you still need to find the best deals, but the market is getting crowded with investors who aren’t… well, aren’t as invested as you are.

So what do you do?
Finding Turn-Key Homes in a Seller’s Market
Like most real estate investors, you may find that Atlanta flips are hard to come by. Asking prices for homes are often too high to show you a return on investment.

When it’s a seller’s market, it’s time to get creative.

Start here:

Don’t rely solely on the MLS. Foreclosures and homes with low asking prices go quickly.
Go grassroots by knocking on doors, finding “for sale by owner” homes, and searching for pre-foreclosures.
Expand your territory — look for homes that are just off the beaten path.
Shift focus to quantity rather high-value returns; don’t turn up your nose at smaller profits.
Team up with an experienced real estate professional who has an extensive contact list.

Do You Need a Hard Money Lender in Atlanta?
If you’re looking for a hard money loan in Atlanta, we may be able to help you.

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 […]

Take Your Emotions OUT of the Home-Buying Process!

If you’re like most real estate investors, spotting a great deal can get your heart racing and adrenaline pumping. While it can be exciting, you’ll want to make sure you’re not acting like a kid on Christmas morning each time you spot a potential bargain. Calming your emotions and keeping a level head will help you make rational decisions.
If You’re a New REI…
­­In the beginning of your investment journey, you’ll probably find several homes or buildings that speak to you immediately. If you’re able to recognize what is pulling you to that property, you’ll need to ask yourself if this feature would draw the same reaction from an average buyer or tenant. Make sure you’re not making the purchase personal.

Having fond memories of steam engines may cloud your judgment and make you forget that most reasonable people are turned off by living next to train tracks. Just because you find a home or office building fascinating—doesn’t mean it is. Before making a quick bid on a property, make sure it’s something you can market.
List the Pros and Cons
Creating a list of pros and cons and researching what buyers want, prior to making an offer, will allow you some extra time to process the information before jumping in. If you find that the property is still desirable, check out what other homes in the area are selling for to make sure it’s worth it. Putting your emotions to the side will help you in the long run.
Do You Need a Hard Money Loan in Atlanta?
If you’re looking for a hard money loan in Atlanta, we may be able to help you.

Call us at 404-814-1644 or contact us online to find out whether you might qualify for this […]