A lot of hard work and extra steps go into flipping a property – that is, acquiring a beaten down, worn out house or business, repairing and upgrading the whole thing and then selling it for a profit.
There’s a lot to consider – for one, the time it’ll take, who you’ll be outsourcing to fix dents, tile floors, fix plumbing and garnish the trim. Then there’s the anxiety over selling such a property. Even if you completely renovate a mansion and try to resell it, will anyone be able to buy it in these markets? Well, as the economy and the stock market steadily rise, the answer seems to be yes, so long as you’re patient.
But the most important thing to consider is cost. If your expenses in flipping this hypothetical property exceed or hardly meet your profits, you’ll be down river without a paddle. And what if the banks don’t even approve your project, as they are wont to do in such an unstable market. One way to avoid this is with hiring a hard money lender Arizona. These guys give you the funds to give your project life and usually only ask for a small percentage and payments on interest, so you can focus on all the electrical rewiring or whatever, instead of how you’ll pay bills month to month. Understanding this growing trend of Arizona hard money is essential to anyone trying to make buck in the real estate biz, especially since so many people are wary of it lately. Hopefully, you can make a right decision that will benefit everyone in the end.
Dennis Dahlberg Broker/RI/CEO/MLO
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 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 42 years. They have 2 beautiful daughters 5 amazing grandchildren. Dennis has been an Arizona resident for the past 40 years.