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Real Estate Funding Solutions may be a financial service provider, but they are also experts with over 20 years of experience in the field of investing in real estate. They have competitive rates, specifically for fix and flips, and they also offer plenty of creative financial products in order to help their clients acquire the investments they so desire and at minimal cost to their credit scores of FICO, because the agency doesn’t run credit checks until after the loan has been approved.
“We want our clients to feel safe and not feel like they are simply clients to us. So many agencies focus on closing the deal rather than take the time to know their client’s needs. We’ve had clients come in and learn about the very extensive options available and become hugely remorseful that they didn’t shop around prior to choosing a particular loan. The same thing happens when they flip properties for the first time because they don’t take into consideration certain factors that only the more experienced understand.” A rep from Real Estate Funding Solutions breaks down the various mistakes that come with the territory of flipping real estate and all of it has to do with financial management.
People often look at a bargain and think that they’ve struck gold, but sometimes there are certain considerations that devalue the property. Plumbing issues can be a nightmare to fix, so some knowledge about construction will be useful in this regard. You don’t have to be an expert in the industry, simple research can go a long way, especially in this digitized era.
Being able to estimate a project’s cost and time can better determine the type or length of loan you should be taking on. But here’s where it gets tricky. People think that just because they will be applying for a loan, they can splurge as much as they want. While it may be true for private residential, the same mentality doesn’t work for commercial fix and flip because you want to sell the property as soon as possible. Renovations often do not get taken into consideration and your tastes may not suit the buyer’s, which renders it completely worthless.
“The key is to make the property livable. It’s not to create a masterpiece.” Wise words from the Real Estate Funding Solutions representative. He goes on to elaborate that small issues also add up. “Fix and flip projects should have a quick turnover, so don’t get suckered into a property that has a lot of potential, if you cannot get it fixed up within three or six months.”
Real Estate Funding Solutions continue to prove that they aren’t just professionals in the field of financing, but they are also knowledgeable in the field of real estate and investing. They also provide a free consultation to anyone who is in the market for a mortgage. All you need to do is fill out a form and someone will call you within the next 24 hours. Quick, painless, and free.