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So far YSNM Support has created 220 blog entries.
11 01, 2018

What’s the Formula for Calculating Profit or Loss on a Flipped House?

By |2018-01-11T13:00:23-04:00January 11th, 2018|Categories: Hard Money|0 Comments

If you’re flipping a house with a hard money loan, what’s the formula for calculating profit or loss? Here’s what you need to know. What’s the Formula for Calculating Profit or Loss on a Flipped House? Your profit is equal to the sales price minus the purchase price, minus rehab costs and fixed costs. Let’s say you sell a house for $200,000, but you bought it for $125,000 and spent $25,000 on rehabbing it. Your fixed costs are $5,000. Your formula looks like this: Profit = $200,000 - $ 125,000 - $25,000 - $5,000 Your profit on this house is

7 01, 2018

Should You Put New Kitchen Appliances in a Flip?

By |2018-01-07T13:00:19-04:00January 7th, 2018|Categories: Hard Money|0 Comments

If you’re flipping a house with a hard money loan in Georgia, Florida or Tennessee, it makes sense to think about what appliances you need to put into it – and one of the major places to consider is the kitchen. So should you put new kitchen appliances in a house you’re flipping? Should You Put New Kitchen Appliances in a Flip? In some places, the only “optional” appliances are a washer, dryer, dishwasher and refrigerator, so make sure you know what you’re doing before you consider opting out of buying them. A stove is probably necessary, as is the

4 01, 2018

When Should You Hire a Property Manager?

By |2018-01-04T13:00:11-04:00January 4th, 2018|Categories: Investment Properties|Tags: , , |0 Comments

If you own rental properties, or if you’re thinking about buying one with a hard money loan, you’re probably wondering when you should consider hiring management help, a handyman or other assistance – and you’re not alone. When Should You Hire a Property Manager? If you’re more of a hands-off property owner who doesn’t want to advertise your rental units, run background and credit checks, or hire someone to fix every little issue that comes up, you’re probably going to want to hire a property manager. Most property managers charge about 10 percent of the monthly rent to handle all

30 12, 2017

How Long Does It Take to Flip a House?

By |2017-12-30T13:00:27-04:00December 30th, 2017|Categories: Hard Money|0 Comments

If you’re buying a home with the intention of fixing it up and selling it, whether you’ve already gotten a hard money loan or not, you probably want to know how long the whole process will take. Unfortunately, there’s no one-size-fits-all answer to that question – but here’s an estimate of how long it takes to flip a house. How Long Does It Take to Flip a House? Let’s say that it takes you between 5 and 10 days to secure financing (we can fund loans in a matter of days in some cases). That’s assuming the seller can go

27 12, 2017

Should You Sell an Entire Building or Sell it Unit-by-Unit?

By |2017-12-27T13:00:16-04:00December 27th, 2017|Categories: Investment Properties|0 Comments

If you’re rehabbing a condo building with multiple units, whether or not you’ve already secured a hard money loan, should you sell the whole building or sell it unit-by-unit? It’s a tough question, but only your own financial circumstances, as well as your intentions for the future of the property, can answer it. Should You Sell the Whole Building or Sell it Unit-by-Unit? Look at this question long-term. If you sell the whole building, you’ll make your profit and be done with it. If you sell it unit-by-unit, or if you choose to keep some units as rentals, you’re in

23 12, 2017

3 Things to Look for in a Good House Flip

By |2017-12-23T13:00:13-04:00December 23rd, 2017|Categories: Hard Money|0 Comments

If you’re going to flip houses for a living, you need the right hard money lender – but after that, you need to find the right properties. Here are three things to look for in a good flip. 3 Things to Look for in a Good House Flip #1: Location, Location, Location The key is to find a house in a desirable neighborhood. That’s where you’ll make the best profits (obviously). This can be tough in a slow-moving real estate market, but that’s when it can pay off the most, too. Research cities and neighborhoods within those cities to look

19 12, 2017

3 Tips for Finding Great Contractors in Real Estate Investing

By |2017-12-19T13:00:10-04:00December 19th, 2017|Categories: Hard Money|0 Comments

Flipping houses and investing in real estate requires you to work with a great team – and that includes reliable, trustworthy and effective contractors. But how do you find the best contractors? 3 Tips for Finding Great Contractors in Real Estate Investing #1: Ask for References Ask family, friends, your hard money lender and anyone else you can think of for referrals and references. Chances are pretty good that you know someone who’s worked with a contractor before, so use their experience to find one that’s going to work out well for you. #2: Interview Three (or More) Ask plenty

7 12, 2017

Trim and Paint Make a HUGE Difference

By |2017-12-07T13:00:50-04:00December 7th, 2017|Categories: Hard Money|Tags: , , , , |0 Comments

If you add two simple lines of trim - one as a chair rail and one as crown molding - you could be adding a huge amount of value to your investment property. But how do you do it the right way? Trim and Paint: An Affordable Value-Add Pro Tip: Make a big impact on the house's appearance by painting trim before you install it. The Chair Rail First, pick out a trim that measures between 60 and 70 percent of the width of the baseboard. Use a stool and apron (it'll look like a windowsill) if possible, but if

3 12, 2017

3 Simple Ways to Boost a House’s Resale Value

By |2017-12-03T13:00:47-04:00December 3rd, 2017|Categories: Hard Money|Tags: , , , , |0 Comments

When you're selling a flip, there are three simple things you can do to make sure it's as valuable as possible. 3 Simple Ways to Boost a House's Resale Value Bathroom Boost Install granite countertops and add a new faucet and mirror. Total cost: Under $500 when you buy supplies at a home improvement store and perform the work yourself. Time investment: 2 to 3 days Brighten the Living Room Use halogen track lighting with movable lamps to create a classy, simple solution. Total cost: About $150 for a basic track lighting kit. Time investment: 2 to 3 hours if

27 11, 2017

4 Quick Tips to Make Your House Easier to Sell    

By |2017-11-27T13:00:10-04:00November 27th, 2017|Categories: Hard Money|Tags: , , |0 Comments

Before you put your home on the market, check out these simple ways to maximize your chances of closing a deal. Hear the Real Deal from Your Realtor Ask your realtor to suggest needed improvements for your home; many will do it as a courtesy. You can also get design inspiration from home design TV shows, magazines, websites, and books. Simple changes to things like furniture placement and paint color can make a dramatic improvement in the look of your home. Cut Down on Energy Costs Some local utility companies will perform free energy audits for customers to show how