The real estate industry, like a number of other industries, presents many exciting investment opportunities. Personal gain aside as an investor, there are many vacant and unwanted properties that are merely occupying lots of land, waiting to be renovated into an inhabitable domicile. If you ask our real estate consulting professionals, it’s a shame that so many old and worn down homes are idling sitting here in the United States.
As we’re all familiar with, the economic recession of 2008 took a hard hit on the real estate market, leaving many homes half-constructed and forcing families out of mortgage situations that they could no longer afford. Though we’ve made great progress as a country in the decade following this recession, there’s still a clear disconnect between unwanted properties and potential real estate investors. That’s where Private Funding Consultants comes in.
Private Money Lending To Help You With Real Estate Investments
Acknowledging the housing crisis and the countless number of forgotten properties sitting there to rot, our real estate funding professionals see these “ugly” residential and commercial properties as exciting investment opportunities, not permanent eyesores. By providing interested but inexperienced real estate investors with the comprehensive tools they need to fix up and eventually sell a property, Private Funding Consultants is able to generate a maximum return on our clients’ investments. Indeed, with the power of private money lending, we work with accredited investors or individuals who possess a net worth of over one million to find smart investments that are…well, worth investing in to begin with.
Below, our comprehensive real estate consulting experts are going to cover some of the most common real estate investment mistakes that investors tend to make. Of course, this is not a total guide to the do’s and don’ts of investing in real estate, but rather, it should give you some things to think about before you make any actionable decisions. As always, our real estate flipping experts are more than happy to talk with you personally about your investment situation, what your best options are, and how to move forward with real estate funding. If you’re ready, take the next step to real estate success by getting in touch with Private Funding Consultants today!
Mistake: A Lack Of Research
Have you ever heard of the term “due diligence”? If not, you’ll become very familiar with this as a real estate investor -we’ve stressed this to many individuals over the years. As nice and convenient as it would be to find the nearest property, purchase it, fix it up and sell it for a generous profit, it’s not always that easy. A good chunk of the entire real estate investment process is research – taking the time to find the right place to invest in is, in itself, a worthwhile investment of your time. Why go to all the trouble of flipping a property if you’re not going to generate a profitable return? It’s simply not worth investing in and fixing up properties that won’t sell, or won’t sell for an asking price that secures a profit.
Though this is far from a total list of questions to consider when researching the ideal property to flip, here are several important considerations:
- What is the neighborhood like, or what’s nearby the residential property?
- Is the property built in the vicinity of a commercial site, or will long-term construction be occurring in the near future?
- What needs to be replaced?
- Are there immediate health concerns like mold, mildew, asbestos, etc.?
- Does the property have any permit issues that need to be addressed?
Mistake: Doing Everything On Your Own
Whatever the reason, many buyers seem to think that they can easily close a real estate transaction on their own. In our seasoned and professional opinion as real estate investment consultants, real estate investors should tap every possible resource and befriend experts that can help them make the right decisions, and ultimately, the right purchase. Of course, Private Funding Consultants is comprehensive “one-stop-shop” of real estate investment guidance, providing you with expert advice and guidance on all aspects of the investment process. Just keep in mind that, while the returns of a successful real estate investment are generally excellent, it takes a great deal of work and an even greater amount of industry know-how to successfully flip a property.
Mistake: Underestimating Expenses
Contractors aren’t cheap, and if you are paying for cheap contractors, then you should expect a shoddy renovation job and unsatisfied occupants once the property is ready to be moved in. These properties are unwanted and neglected for a reason, and the longer they sit, the worse condition they’re in. Our point is that it takes a lot of time, effort and money to properly fix up a property, and that’s after some of the legalese and purchasing processes are dealt with.
Fortunately, Private Funding Consultants specializes in hard money lending to help our clients buy a property before fixing it up. In a successful flipping scenario, you’ll come out on top, making money on your investment and adding yet another property to your real estate portfolio.
Contact The Real Estate Investment Experts To Learn More
Again, we can’t stress enough how much work is involved in the real estate flipping business. From initial research to finally selling a renovated property and every process in between, Private Funding Consultants can guide you through each step by leveraging our industry expertise. Interested? Take the next step by contacting our real estate consultants today!