Dip Your Toe in the Real Estate Investing Pool: Try it Part-Time

Posted by Bobby Montagne on Jan 27, 2017

INTRODUCTION:

In the HGTV version of your life, you would spend your days leisurely driving around looking for neglected gems in up-and-coming neighborhoods. Then you'd fill them with hand-selected shabby-chic decor before selling them for triple your investment. 

Then there is the real world. In the real world, you already have a job that you need to pay the bills, but you dream of making a little extra money as a real estate entrepreneur, maybe someday doing it as a career. That's a smart way to get started, and there many benefits to investing in real estate part-time.  Here are a few compelling ones: 

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Topics: Real Estate Entrepreneurs

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

Real Estate Investing in Washington, DC: Top Zips for Flips

Posted by Bobby Montagne on Jan 7, 2017

It may be cold outside, but Washington, DC is hot!

Over the past year, five Washington area zip codes moved into the top 30 nationwide when it comes to "fix and flip" activity. It seems that trendy young buyers have been eyeing these neighborhoods for some time now, and have pushed them to new heights of desirability. This is a great time to be a real estate investor, independent builder or developer in the DC area.  

Without further ado, let's dive in to see what zip codes offer real estate investors the biggest bang for their buck.

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Topics: Real Estate, Real Estate Entrepreneurs

Construction Loans. Get the Green Light On Your Next Application.

Posted by Bobby Montagne on Jan 5, 2017

If the world of real estate investing were simple, everyone would be a winner without any special knowledge or experience. The reality is that it's not always easy to win, even if you're only playing a game of Monopoly. The stakes are higher when you're using real dollars and the goal is to profit on an actual fix and flip. You need to know when to buy and the best way to secure a construction loan.

In this blog post, we provide a general overview of construction loans, as well as a list of what your lender will require from you before they loan you money.

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Topics: Real Estate Entrepreneurs

Fix and Flip Success

Posted by Bobby Montagne on Dec 9, 2016

At a time when reality television shows have made property novices into flipping geniuses, you may think success in fixing and flipping houses should be easily within your reach. Flipping houses seems pretty straightforward. And, you would think being in the building trade would give you an edge in understanding your expenses and anticipated resale value. But if you’ve ever jumped into a fix and flip project with dollar signs in your eyes only to find yourself blindsided by unexpected fix and flip costs, you know that developing a sound budget—and sticking to it—is not always an easy task.

Begin with a detailed house flipping budget

It may seem like everyone is entering the house-flipping business, but make no mistake about it: fixing and flipping is a high-risk venture. A lot can go wrong before you ever get to plant that for sale sign out front. While you may be adept at pricing out material and labor costs, renovating an existing house is a far cry from new construction.

Start knocking down drywall and pulling up floorboards, and you never know what you are going to find. It may be mold, unsafe wiring, leaky plumbing, termite damage, or something else. So, in addition to sharpening your pencil to price out expected materials and labor, budget for the unexpected. Look at your final budget figure, then scratch it out and replace it by a number that is 20 percent higher. That’s what experts suggest be the minimum cushion for what may go wrong. Keep in mind, however, that there are no guarantees a job won’t push that limit even higher.

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Topics: Real Estate Entrepreneurs

8 Unbeatable Tips for Real Estate Investors During the Winter Season

Posted by Bobby Montagne on Nov 23, 2016

The turkey has been eaten, the tryptophan has kicked in, and you’ve watched enough football to last you until New Year’s Day. So what’s next on your long Thanksgiving weekend agenda?  Black Friday deals, baby!!

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Topics: Real Estate Entrepreneurs

8 Reasons to Run from a Real Estate Investment Property

Posted by Bobby Montagne on Oct 27, 2016

Remember the movie Forrest Gump, when Tom Hanks’ character just started running... and running... and never stopped? He continued through the rain, sleet and scorching desert heat. Perhaps we can all discover our own inner "Forrest” and learn when we should start running... and running...from that troublesome real estate transaction before it’s too late! Before we lace up our Nike’s and pull on our all-too-revealing lycra outfits, let’s look at 8 reasons to run from a real estate investment property:

8 Reasons to Run from a Real Estate Investment

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Topics: Real Estate Entrepreneurs

How to Pick the Right Investment Property

Posted by Bobby Montagne on Oct 20, 2016

Whether it’s today’s Wayne Brady version or the classics with Monty Hall – wide lapels and skinny microphone in tow – Let’s Make a Deal is a game show that we can all relate to.

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Topics: Real Estate Entrepreneurs

Your First Fix and Flip Real Estate Investment

Posted by Bobby Montagne on Oct 6, 2016

 

So, you’re ready to take the fix and flip real estate investment plunge!

You’ve watched all of the HGTV shows, attended several seminars, and read a few books. Now what? Several times a week, the Walnut Street Finance team meets with a newly minted investor who’s interested in diving into a fix and flip real estate investment. The pool is filled with smart and successful people possessing solid business acumen, but with a plethora of information floating about, many investors are stuck treading water. So many options, so many opinions - what to do next?

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Topics: Real Estate Entrepreneurs

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