Buy Fort Worth Real Estate Using a Hard Money Loan!
DFW hard money lends money to real estate investors looking for loans for their real estate investments.
Whether you are flipping or rehabbing, DFW hard money lends money to real estate investors.
In real estate, no location is the same and because of this, real estate investors use different standards and strategies when evaluating properties. In order for DFW hard money to get involved in lending hard money with any real estate investment property, there are some basic things that we look for when judging for the worthiness of any rehab project:
“You should look for the worst house on a decent block”
1) Whether your real estate investment strategy is to “flip” properties, or to hold them for their rental cash flow, it’s important to be able to draw potential buyers, or strong potential tenants, as quickly as possible.
With this in mind, you should look at properties on streets that are maintained properly. This does not limit you to higher-end homes. There are many “blue-collar” areas that properly maintain the neighborhood, and people also take pride in the condition of their homes and yards.
However, a street that has poorly maintained properties or many vacancies does not lend itself to fast turnaround sales or well-suited tenants.
Always remember that this is an investment. You take on a large risk and a lot of work as a rehabber. No matter how much loving care you put into your property, you can do nothing about the condition of your neighbor’s property.
2) Too many times we have seen where real estate investor’s investment can turn to a loss quickly because of one major oversight, structural damage to the property. Be sure this doesn’t happen to you, as it could be a fatal blow to your investment!
“You make your money when you buy a property, not when you sell it!”
There are many formulas used for the successful purchase of rehab projects, and it is vital to use one. There must always be a comfortable cushion between the purchase price and the selling price of investment property.
This cushion price will help you achieve a successful real estate investment, even if you have repair cost over-runs, or hold on to the property longer than you had anticipated.
Remember, every day that the property is not sold or rented comes right off your bottom line. The interest, taxes, insurance, and utility bills compound each day. Buying the property at the right price will protect you from Murphy’s Law.