Investing in Real Estate? Know What to Expect at the Closing Table.

Posted by Bobby Montagne on May 24, 2017

Investing in real estate is something that becomes less intimidating or confusing the more familiar you become with the process. The closing table represents the pinnacle of success for the buyer, as well as the seller. One person walks away with the keys to a new piece of real estate, and the other receives a (hopefully sizeable) proceeds check. It’s a win-win situation.  Except when it’s not. Things can and do go wrong at the closing table.

Does knowing what to expect at settlement increase the likelihood of a successful transaction for both parties?

Short answer: Yes. Let's discuss...

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How to Tell if a Hard Money Lender is Legit!

Posted by Bobby Montagne on May 17, 2017

 

Truth be told, the hard-money or private lending industry, like every industry, has a few bad apples. But the good news is they are not the norm AND there are easy checks you can do to weed them out when you are looking for a fair and ethical lender. Here's what to look for......

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Topics: Lender Profile Series

⚓️ In a Fix and Flip, Borrowers Need to Steer the Ship ⚓️

Posted by Bobby Montagne on May 10, 2017

If you are new to the flix and flip market, you understandably will rely a lot on your contractor to explain the ins and outs of residential construction. That being said, it's imperative that the real estate investor be the one to manage the timeline, budget, and overall outcome of the rehab project, regardless of their skill or experience level. But why...?

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Topics: Real Estate Entrepreneurs

What is an ALTA Statement and How Do You Read One?

Posted by Bobby Montagne on May 3, 2017

You're days away from closing your deal, and you receive an ALTA statement from the settlement company with A LOT of numbers on it. And where has the old HUD -1 form gone? Here's how to make sense of the new ALTA....

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Topics: Real Estate

Permits for Fix and Flips: The Personal Approach Wins

Posted by Bobby Montagne on Apr 26, 2017

It's a common story. You've purchased a promising residential property for a speedy fix and flip. You are trying to swiftly execute your renovation plan and get the property to market as soon as possible. The main hiccup at this point is you need permits and you can’t get a clear answer regarding the status of your application.

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Topics: Real Estate Entrepreneurs, Lender Profile Series

Hard Money Lenders and Credit Checks: What You Should Know

Posted by Bobby Montagne on Apr 22, 2017

Hard money loans are a great alternative for real estate borrowers with less than stellar credit or those who don't have enough financial history to qualify for a bank loan. That doesn't mean that hard money lenders don't conduct credit checks. It just means that your credit score is less likely to be a deal breaker. Here's why...

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Topics: Acquisition Loans, Lender Profile Series

When Your Home Inspection Report Has Nasty Surprises

Posted by Bobby Montagne on Apr 18, 2017

You've gotten an offer on your fix and flip, and the buyer has ordered a home inspection. What happens next? Sometimes you'll sail through an inspection and the deal will close quickly.  But what is the best course of action if an inspection report contains unexpected, expensive or (in your judgment) unnecessary items that need to be addressed before you can proceed to the closing table?

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Topics: Real Estate

How to Get Approved for Your Fix and Flip Loan

Posted by Bobby Montagne on Apr 13, 2017

It's tempting to visualize how a remodeled condo will be furnished, or to fantasize about how to spend your share of the "flipping" profit. But without a specific action plan that includes a detailed cost estimate, a realistic schedule and the talent to make it all come together, such dreams can become exercises in futility.

The business of real estate investing is just that, a business that requires mastery of a specific set of skills. It's not rocket science, but it's not as easy as flipping burgers either. Here are some tips to assure that your dreams of fix and flip success become reality.

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Topics: Hard Money Lending & Processes

Foreclosures...The Good, The Bad, and the Ugly

Posted by Bobby Montagne on Apr 6, 2017

 


Foreclosures can be a gold mine for fix and flippers looking to "buy low".  The good: often priced well below market, in desirable locations, and in desperate need of rehab, they are just what flippers are looking for.  The bad: they are not such a big secret anymore, and there is a lot of competition to get them.  The ugly:  often the properties themselves are in pretty bad shape, and many will not allow inspections so they can be risky. But there are still great deals to be had if you know where and how to look for them. Read on to find out about the different types of foreclosed properties and how to find them! 

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Topics: Real Estate, Real Estate Entrepreneurs

Fix and Flip or Buy and Hold?  That is the Question!

Posted by Bobby Montagne on Apr 4, 2017

Property flipping gets a lot of airtime these days, with lots of HGTV shows and flipping couples who have even become celebrities.  Buying and holding isn't quite as sexy, but has many benefits.  Which real estate investment strategy should you try?  Or a little bit of both? Read on for a quick list of the pros and cons of each ...  

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Topics: Real Estate, Real Estate Entrepreneurs

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