Tag: Flipping

Liens: Hard money and private lenders often require the loan to be secured against real estate. This may include assets in your portfolio or the fix-and-flip property. It&rsquo;s essential to understand that coming up short on repayment means the lender could end up with the resale profits.
Timing: Traditional lenders typically don&rsquo;t move quickly. When entrepreneurs find a property ripe for flipping, sellers may be hesitant to wait. To some degree, that minimizes your negotiating power. In the house flipping sector, the adage &ldquo;cash is king&rdquo; holds true.
Repayment: One factor borrowers sometimes overlook is the fact monthly payments are required on these short-term loans. It&rsquo;s crucial to include that added expense in your 70% rule calculations and have the cash on hand to avoid defaulting on the loan.

Provided by Reon Boydstun Howard - CA DRE #01446104

Based on information from California Regional Multiple Listing Service, Inc. as of 12/23/2024 12:36 PM. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Boydstun Rlty & Prop Mngmt Inc has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.