Successful real estate investors know when to walk away from a potential real estate investment. They know how to spot the signs of a bad investment. Every deal isn’t going to be worth the time, money and effort. So, here are some tips to know when to walk away from a potential real estate investment!
- Make sure your income potential is immediate. Don’t invest for some “huge payout” at some indefinite date in the future.
- Lack of income documentation on a rental property. If a seller is selling an existing rental property, make sure you see proof of rental rates, vacancies and property profits.
- The property is in a bad neighborhood. Keep your eye on properties where the neighborhood values are expected to increase. A good property in a bad neighborhood is not a good investment.
- The property is outside of the country. If you’re still looking for tips on investment properties, you likely don’t have enough experience to do well investing in international real estate.
- Large upfront cash requirements. Know your budget. A killer deal means nothing if you don’t have a means to renovate the property so that you’ll see a return on your investment.
Are You Looking for a Hard Money Loan to Flip a House Or Buy A Rental Property?
Paces Funding is a hard money lender offering hard money loans to purchase and renovate non-owner occupied residential and commercial properties throughout the Atlanta, Nashville, Florida, or the North and South Carolina metropolitan areas. Our application process for hard money loans is easy. Just fill out this very simple online form and you will be contacted shortly. Unlike other lenders, the window between applying and funding is very small. We have funded properties in as a little as one day, but typically funding hard money loans takes about seven to ten days.
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.