What Credit Score Do You Need for a Competitive Rate on a “Fix and Flip” Real Estate Investment Loan? The lower your credit score, the higher your rate for a “hard money”, fix and flip loan, right? Not necessarily. At MM Lending, we have been flipping houses as well as funding local, residential real estate investment loans since 2005 … …
The History of House Flipping
How does something become better known? Typically, when something ends up on TV in some way, suddenly everybody sees it, hears about it, or, at least, becomes vaguely familiar with it. Such is the case for “flipping houses.” If you had asked someone thirty years ago what a house flipper was, they probably wouldn’t know. Today, though, thanks to various …
How to Formulate a House Flipping Business Plan
House flipping can be lucrative. Before you get into house flipping, though, it’s a good idea to come up with a plan regarding your goals and objectives. Perhaps you should write a business plan. By doing so, you’re going to force yourself to figure out what you want to do in concrete terms rather than vague ones. Designing a plan …
Real Estate Investments Could Pay Big Dividends Down the Road
Well, how much risk can you afford right now? One of the reasons people like to invest in real estate is because the right property in the right spot at the right time can yield huge profits. So, investing in a $50,000 piece of land that ends up selling for $500,000 “down the line” can be quite lucrative. Whether that …
Reasons to Consider a Fix and Flip Loan
When a person “flips” a house, they generally buy it at a low price and fix it up so it’s nice and ready to command a better purchase price. Then they sell it for a nice profit. For example, a flipper might buy an old house in a city for $40,000, make some repairs, give it a paint job, install …
Things You Should Look For When Flipping a House
Purchasing a home that needs some work done to it, fixing it up, and then flipping it for a profit might sound like a great idea. Nevertheless, there are many people who end up losing significant amounts of money every year by getting in over their heads while flipping homes. To avoid this, you should take the proper steps throughout …
How to Keep Contractors on the Job
Our own Mike Fallot recently had an article published on KREIA’s website! Kreia stands for the Kentuckiana Real Estate Investors Association. You can read his article below. Great job, Mike! “One of the lingering effects of the housing crisis from a decade ago is a shortage of skilled and dependable contractors. The surging housing market, fueled by low inventory, an …
The Benefits of Flipping Houses
Flipping houses is an interesting business that has been brought into the public consciousness as a result of reality TV shows focused on this niche enterprise. There are certainly benefits of flipping houses, and a couple of risks to consider. These are some of the benefits and risks involved with flipping houses. Benefits The main benefit of flipping houses, and …
Tips for Improving Your Credit Score to Secure a More Favorable Mortgage Rate
Credit scores represent a statistical analysis of a person’s credit files, telling others how likely that person is to pay their bills. In other words, how “creditworthy” are they? Do they pay their bills in full and on time… or not? Credit scores are typically obtained from major credit bureaus such as Experian, Equifax and TransUnion. When applying for a …
With The Economy on the Mend, House Flipping is Back
Even by the most conservative projections, the outlook for the American economy is finally looking up. While the global economy might be another story, here at home we seem to have finally turned the corner on the worst recession in recent memory. The national unemployment rate has fallen from 10 percent in 2009, to just 5.7 percent at the beginning …
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