Funding any kind of project can be difficult, especially if you have a project that can easily run with a budget of a quarter million dollars. Of course, when you stand to earn a half million dollars, this might make the investment worth it, and this is exactly the kind of real estate investment deal you’re looking at when you endeavor to fix and flip a home in Huntington Beach. The old fix and flip has grown in popularity over the years as a real estate investment strategy.
If you’re not familiar with it, just remember that people who fix and flip houses don’t buy houses that adhere to FHA guidelines and serve as a place to live. People buy a fixer upper like this so that they can fix it up and then sell it off for a profit. That means choosing repairs and home improvements that will increase the home’s value in its own real estate market of Huntington Beach. To do this, you need a fix and flip loan, otherwise known as a type of hard money loan that allows you to pursue your dream of fixing up a house and selling it for a big profit.
We all dream of doing something like this, but few people have the go-getter attitude that it takes to actually make this happen. Lenders like banks don’t typically give out loans like this unless the person has perfect credit and income. Thanks to hard money loans from places like Delancey Street, you don’t have to worry about having a great credit rating or a ton of income. You can get a fix and flip loan based on the value of the property you’re going to flip. That means if you walk in with a great blueprint for success, we’re going to fund your project. End of story.
How To Flip a House
There’s no one secret recipe for successfully flipping a house. Thousands of people do it and make a living at it, others try it once and walk away in defeat. There’s no way to guarantee success, especially in a picky Huntington Beach real estate environment. There are some things you can do to make sure you have your best chance, though, and one of those things means going with a hard money lender that is going to give you competitive interest rates. A lender like Delancey Street can be one key component in your success, but it’s just one.
You’ll also need to find ways to save money on the repairs you need to make. The better your planning is, the greater your chances of success. Talk to repairmen and home improvement experts who can look at your home and give you honest assessments of what it’s going to take to fix the property up. Talk to real estate agents who know the markets of Huntington Beach and can be accurate when they tell you what each improvement or repair will do to up the value of the house. And of course, you’re going to need a true real estate agent who is aggressive about selling your house for a profit. You want someone who’s on your side all the way.
Location is another central key, and your lender is going to look at the location of the home you’ve chosen as well. Sometimes no amount of repair or improvement will increase the value of a house because it’s in a neighborhood that people with higher incomes would prefer not to live in. So you have to know the buyer in the future just as well as you know your own plan for flipping the house. Even if everything goes right, is it even going to matter? A good real estate agent can look at your plan and give you an idea of what your repairs and improvements will do and whether or not the location is right as well.
Contact Us Today
Delancey Street is a true blue believer in people who want to flip houses, and we devote a large part of our investments each year to helping people successfully fix and flip houses for profit. We are always on the lookout for the next big success story. To get started on your success, we need to touch base with you and see what you have in mind. Over the course of your application, we’ll look at the amount of money it will take to flip your house, the repairs you have lined up, the location of your property, and many other things. And then we’ll come up with a loan that works for your needs. We’re a very consumer-centric lender, so when we say we have your best interests at heart, we mean it. Call today.