Avalanche of Money Lenders Replaces Customary Lunch with Private Investors

Luncheons with a coterie of investors with deep pockets used to be the avenue that lead real estate investors to the Land of Ready Cash. Today, however, more and more private lending companies are purveying rehab loans to rehabbers and real estate investors who want to renovate their rental properties. The government is also offering rehab funding with terms and conditions varying from city to city.

A real estate investor does not have to go far to look for a rehab loan. Skipping the need for leafing through the menu of the restaurant where private investors’ money were used to be raised, a cash-hungry real estate investor can instead browse the Internet for a list of lenders for this kind of loan. For the newbie, however, selecting the lenders… Read the rest

Typical Foreclosure Viewing Instructions: Remove the Front Door Yourself!

Most experienced real estate investors and rehabbers have figured out a way to bypass having to be accompanied by a real estate agent every time they view a vacant home or bank owned property.  Some investors decide to get a real estate license for themselves while others have friends as real estate agents that get the lockbox combos for them. Others just sweet talk or persuade the listing brokers into offering up the combos – it’s possible.  These practices aren’t being recommended, so be careful not to get in trouble if viewing a vacant home without permission.  Many agents will actually instruct investors to bring a power drill with them to remove the front door to gain access to the house as long as the door is screwed shut upon leaving. … Read the rest

Landlord’s flooring guide for rehabbing for cash flow

Rehabbing a foreclosure to hold as a rental property, versus selling it to a homeowner, requires a different approach to the rehab than one may be accustomed to.  Think durability.  Most tenants generally do not care for their homes as well as homeowners.  Also, many homes in rental heavy neighborhoods usually wind up having many more live-in boyfriends, girlfriends, and kids than originally accounted for on the lease.

Rehab choices for a rental house should be made with with durability and ease of maintenance in mind.  Remember that when you decide to sell your investment property down the line, you will have to clean up after the previous tenants anyway.  So at that time, invest the additional $3,000 to $4,000 to spruce up the house to make it look homeowner ready instead… Read the rest