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Arizona Fix and Flips Loans: Advice for Renovations
Use the proceeds of sparingly. Fix and flip financing is expensive, so avoid committing to projects that hinder resale of your home at all costs because you need to pay off your loan as soon as possible.
Just because you add something to a flip doesn't mean that something adds value. Keep your rehab projects as simple as possible, ensure that the result appeals to a wide range of buyers, and that you'll finish your rehab before your loan comes due.
If you don't keep the scope of your rehab as narrow as possible, disaster might be right around the corner.
With Arizona Fix and Flip Loans risk less by not wasting your money on the following:
She will have to pay back that loan, even though her property isn’t listed yet. The likely outcome is she will default.
Use on the most basic renovations possible, to avoid the danger of default.Are office conversions and luxurious master bathrooms inherently dangerous in and of themselves? Of course not. But do yourself a favor and follow a few basic rules when it comes to rehabs:
In short, avoid seemingly nice features might put off buyers and additional time-intensive projects will keep you from listing your home and thus paying back your loan.
So don't undertake renovations that restrict potential buyers, or projects that hinder your ability to list your house.
Dennis Dahlberg
Broker/RI/CEO/MLO
Level 4 Funding LLC
Hard Money Lender
Hard Money Loans
Hard Money Loan
Arizona Tel: (623) 582-4444
Texas Tel: (512) 516-1177
[email protected]
Dennis Dahlberg Broker/RI/CEO
NMLS 1057378 | AZMB 0923961 | MLO 1057378
22601 N 19th Ave Suite 112 | Phoenix | AZ | 85027
111 Congress Ave | Austin | Texas | 78701
About the Author: 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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