Racing Cars, Cheetahs, and Fix and Flip Loans: Need for Speed

Speed ​​matters. This may be the difference between winning Indy 500, getting dinner tonight or gaining real estate real estate improvement and flip project. Many realtors give a lot of money to finance the purchase and renovation of rehabilitation properties, and speedy demand is one of the main reasons why.

How can you "win the race" in the world of real estate renovation?

Renovation projects are extremely time-sensitive and need funding resources that can respond swiftly. That's why:

· The fastest money gets in the competition: In a high density area like Washington DC, the competition with the right fix and flip features is intense. When it comes to foreclosed, abandoned or flooded housing, it is often the developer who has the quickest access to finance. If you can not finance money in a few days, you can miss a lot.

TIP: The website of the United States Department of Housing and Urban Development contains a portal listing all of the country's excluded properties. In most places, fixer-top selling times are limited to several months for shopping season, usually starting early in the spring. This means it makes the purchase and the completion of rehabilitation ideal, which coincides with the sales season. Fast private records as fast as you need is key to timely scheduling of the rehab project. The recent Zillow study sells the magical window by mid-March and mid-April, depending on variables, such as location and weather. Apartments sold in the window sold 15 percent faster and 2 percent more. This is real money in your pocket.

· Flexibility : Fixed and flip or building loans are often structured with a rollout schedule, so funding is displayed each time it reaches the reference value (authorization, etc.). This ensures a continuous flow of funds throughout the project. However, overloading costs and building delays may occur, and developers often increase project scope or timeline after initial funding. Whatever the reason for the need for additional resources for the project, it is waiting for new credit, slowing down the project. Hard cash subsidies can be structured to include multiple phases if they only need the second or third phase and money can be paid as fast as the day so no interruption is required in the project.

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