Hard money loans provide flexible real estate investment resource
House flipping has seen its share of ups and downs along with the housing market over the years.
According to Realty Trac’s Year-End and Q4 2015 U.S. Home Flipping Report, the share of homes flipped in 2015 saw an increase of 75% from the previous year in 83 of 110 metropolitan areas nationwide.
Just what is flipping? It’s purchasing a house with the intent to improve the property and resell it for a gain, generally within a short time frame. The aim for most
flippers is to find and purchase properties at below-market value and make profit thanks to renovations and upgrades.
How to achieve house flipping success
If you’re considering joining the ranks of house flippers, you’ll need certain basics for success. If you’re an experienced flipper you’ll recognize this list of
musts, summarized from The four things you need to know to flip a home (The Washington Post):
Financing: You need money – and the ability to access it quickly. Creative financing, such as private money lending, can provide the fast cash you need.
Real estate & construction savvy: You need to be able to communicate your needs, desires and concerns, and protect your best interests.
Industry resources: You need a team of experts to professionally execute the transformation of your investment from a fixer upper to a hot property.
Daring & steady nerves: You need the courage to take appropriate risks. To take the leap when a potential property arises and to set a sale price that will show a worthwhile return.
Our team at Gregory M. Russell can help in taking the first step towards a successful house flipping experience. Give us a call to learn about our hard money loan services.