Your investment is only a success if you’re able to sell your property quickly and for top dollar. Using your hard money loan for a property that will be appealing to buyers is key.
If you speak to an experienced investor, they’ll tell you that they haven’t always had successful fix and flips. One pitfall that first-time investors can make is not choosing a house that even after renovation will be one that will attract buyers. Before securing your hard money loan you’ll want to research the property and make sure it will check the boxes for buyers.
Location, location, location!
Most buyers will have a desired area in which they will search for their home. If you’re renovating a home in an area that isn’t attracting buyers, you’re going to have a hard time selling it once your flip is completed. Consulting with a real estate agent will help you focus on areas where homes sell quickly and for top dollar.
Know Your Market
In some cities smaller condominiums will be highly desirable where in other locations a 3-bedroom, 2 bathroom is the most sought after property size. This is also an opportune time to consult with a real estate agent who knows what’s selling easiest in the current market.
Cater to Your Audience
While it may be tempting to use finishes that will “wow” potential buyers, you want to keep the palette neutral. A brightly colored home may catch a lot of attention, but you’re drastically limiting who will actually want to buy your property. Use colors that are universal rather than going for what’s trendy right now. Chances are that the buyer may make changes to match taste so spending extra money on expensive hardware and landscaping won’t be a good return on investment.
Your Arizona hard money loan will help you buy your property, but your property choice is what will help you sell. To discuss your investment idea, give Level 4 Funding a call today!
Level 4 Funding LLC
Arizona Tel: (623) 582-4444
Texas Tel: (512) 516-1177
NMLS 1057378 | AZMB 0923961 | MLO 1057378
22601 N 19th Ave Suite 112 | Phoenix | AZ | 85027
111 Congress Ave | Austin | Texas | 78701
About: Dennis has been working in the real estate industry in some capacity for the last 40 years. He purchased his first property when he was just 18 years old. He quickly learned about the amazing investment opportunities provided by trust deed investing and hard money loans. His desire to help others make money in real estate investing led him to specialize in alternative funding for real estate investors who may have trouble getting a traditional bank loan. Dennis is passionate about alternative funding sources and sharing his knowledge with others to help make their dreams come true. Dennis has been married to his wonderful wife for 43 years. They have 2 beautiful daughters 5 amazing grandchildren. Dennis has been an Arizona resident for the past 40 years.
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