You try to prevent it.
You do all your due diligence, run your numbers, underwriting, inspections galore.
But sometimes things don't work out.
Sometimes rehab just explodes no matter how hard you try to rein it in.
The reality is sometimes you SHOULD back out of a deal.
How can you back out of a deal without losing future deals? Or being sued?
Find out here!!
New roofFoundation overhaulCondemned propertyMajor plumbing issueElectrical rewiringZoning issue
There is a BIG difference between ARV and flip sale price. It's critical to know if you're in EITHER flipping or BRRRR investing. Relying only on one of these values for both your flips and BRRRRs could put you in a rough spot (especially in today's market). When the market is growing like crazy and home prices are ever-increasing, knowing the difference between these two can be overlooked without feeling the pain.
But with prices flat over the past couple of months (and even decreasing in larger metro markets that traditionally yield higher flip returns), mistaking these numbers as the same could have you losing tens of thousands of dollars. . So what's the difference between ARV and sale price?
What's the best tool you can have in your pocket for real estate investing? There are SO MANY tools out there claiming to do so much - and rarely do they live up to the hype. I've tested and used hundreds of tools and this one is the most valuable tool for investing in real estate (especially if you're using the BRRRR model).
PS - Want a free trial of Propstream to test it out for yourself? Get your free trial of Propstream here.
Just because you have private money accessible doesn't mean you should wait until the very last minute when you need private money to start looking for private money lenders. But how long should it take? Should I start searching for lenders once I have a property in line or should I get commitment from a private lender first?
Join me as I give you the answers!
I recently got a question from a student of mine saying he had heard of new investors having significant issues with 'seasoning'. The trouble? He wasn't having issues. Is he doing something wrong? Is he missing something?
Join me as I answer his question and talk through what new investors need to do to avoid surprise challenges with refinancing BRRRR properties.
Are you struggling to find accurate comps for your property so that you know what you are getting yourself to? Are you wondering whether the date range your property manager is looking at is long enough at when it comes to find comps?
With Covid bringing the number of listing down how will that affect ARVs and appraisers?
Join me as I guide on how to go about finding the right comps for properties within your area!
Have you received your tax appraisals and noticed that appraisals have sky rocketed? Are you worried that your escrow has gone up and can affect your cashflow?
The question going through your mind is how do I deal with this? Is there any recourse that I have?
Good news is Yes! Watch my video as I breakdown how to go about protesting property taxes!
Lenders operate on risk. The lower their risk, the less they charge in interest and fees. One way they analyze risk is by looking at your financial stability.
Enter: seasoning requirements.
Lenders include these time requirements to make sure that you show a history of
creditworthiness. As you prepare for your first investment deal, keep seasoning requirements in mind.
Join me as I talk through a 'Seasoning' requirement and whether it can prevent refinancing!
Renovations are an inevitable part of real estate investing.
It therefore follows that it is very important to know how to best find and manage contractors to ensure your projects are delivered on time and on budget.
Watch this video as I explain ways in which you can manage your subcontractors!