What Are Two Ways to Find a Reliable Lender for Your First Flip?

Posted by Bobby Montagne on Jun 22, 2017

Having a reliable lender back your real estate investments is crucial to ensure your venture is successful. But where can you find a reliable fix and flip lender? If you’re new to flipping properties or don’t know where to start looking for lenders, there are two ways to find reliable and trustworthy hard money lenders:

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Topics: Hard Money Lending & Processes

5 Real Estate Investing Mistakes to Avoid

Posted by Bobby Montagne on Jun 9, 2017

Some may say HGTV has made house flipping seem glamorous.  A real estate investor identifies a distressed property, knocks down walls, picks out new appliances, granite and tile, paints the walls, plants some flowers and voila - there's a $50,000 profit to be had. However, in the real world, it doesn’t always work out that way.

Here are 5 mistakes to avoid to help ensure your house flip is a success:

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Topics: Hard Money Lending & Processes

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

The Power of Leverage in Real Estate

Posted by Bobby Montagne on Feb 16, 2017

Some may feel that the concept of “leverage” is difficult to fully grasp, but it’s an important one for borrowers to understand. Leveraged loans let you get a little more bang for your buck when it comes to real estate investing. This is especially true if you don’t have a lot of capital to work with in the first place. Before you decide whether leveraged lending is right for you, read on to learn how it works.

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Topics: Hard Money Lending & Processes

Ensuring Your Real Estate Investment Is Solid: The Checklist

Posted by Bobby Montagne on Jan 25, 2017

No lender wants to be left holding the note on a property that won’t sell or has to be foreclosed upon.  The goal of an ethical and successful private lender is to build mutually profitable relationships with builders, resulting in gains for both parties and, in turn, additional deals.  Due diligence before funding the deal is in both parties’ best interests.  A private lender taking the time to learn the building industry also can provide value-add opportunities for the borrower.

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Topics: Hard Money Lending & Processes, Real Estate Entrepreneurs

Why Are Private Money Rates So Much Higher Than Conventional Rates?

Posted by Bobby Montagne on Nov 10, 2016

Question:

I hear all the time that, with conventional home mortgage interest rates hovering around 3.5%, now is one of the best times ever to secure a real estate loan. Yet, when I talk to a hard money or private lender, the quoted rate always seems to come back in double digits. I understand that these types of loans should be priced higher, but why such a disparity?

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Topics: Hard Money Lending & Processes

Can I Get Hard Money Financing If I Have Bad Credit?

Posted by Bobby Montagne on Nov 4, 2016

Many builders and developers—particularly those who weathered the 2008 credit meltdown—have, at least to some degree, blemishes on their credit reports. For those of us who have been in the real estate game for quite some time, this is hardly a surprise. But can a real estate entrepreneur with truly “bad” credit get hard money financing for a fix and flip project? The answer is unequivocally . . . maybe.

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Topics: Hard Money Lending & Processes

What is the Difference Between Private Money and Hard Money?

Posted by Bobby Montagne on Oct 13, 2016

 Glückliche Wiesn!

That’s right, Happy Oktoberfest to everyone! Here at Walnut Street Finance, we apparently speak not only real estate financing, but German as well.

While the masses flock to the local biergarten, and the smell of wiener schnitzel and sauerkraut permeates through the air, our team at Walnut Street Finance is busy servicing the Washington metropolitan area with the most efficient and professional hard money financing possible. As you chow down on your bratwurst, you may be wondering:

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Topics: Hard Money Lending & Processes

What Is Hard Money Lending?

Posted by Bobby Montagne on Sep 30, 2016
   

The project came to a screeching halt just two months short of completion. The home in Virginia was bought with the plan to completely renovate and sell for $1 million. Unfortunately, the project was just two months short of being completed when the builder ran out of money.

 

 He was a solid professional with a strong eye for value. He had no other resources to tap and no bank would help him.  What could help him was a hard money loan.

 

What is hard money lending?

 

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Topics: Hard Money Lending & Processes

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