People often associate depreciation with the inevitable wear and tear of a rental property; however, this theory could not be further from the truth. Depreciation is the allocation of property costs – and isn’t necessarily assessing the actual value. Landlords and entrepreneurs will depreciate rental property, even if the house or building is in perfect shape.
Your credit score is a factor in our loan process, but how important is it? This is one of the top questions we receive from real estate investors looking for a hard money loan. In the video below I help explain how we look at approving a loan and how your credit score is factored into the overall loan approval decision.
We’ve seen it before: Real estate investors have their investment plan put together, have assembled a project team, and even have contractors lined up for a job - but for whatever reason, they’re hesitant to pull the trigger on a fix and flip loan.
Hi there! I'm Melissa Lynch, Portfolio Manager here at Walnut Street Finance. As you may know, we're answering commonly asked questions on our blog. Chip Sher has weighed in on a few already, and today, I'm going to share a few tips with you about where to start when renovating a fix and flip.