Here is another important point to share with you, do not follow the false instructions of some of the hard money lenders, as to buy a property in the name of Trust.
I would like to give you a piece of advice here, as to not get involved in such activity. You have to get a proper ownership of the recently bought house, on your name or on the name of your own corporation.
You can get hard money loans from the lending agencies, but they have no right to make any claim over it, unless you have not paid back the money in a time span commonly called Seasoning Time Frame.
I am sure you would have learnt well enough before your first investment, as to avoid any of such situations.
You are not supposed to look at the process of Flipping Homes, as a non realistic approach. All you require is to take some hard money loans from a reliable lending agency, and to make a profit over it by making necessary amendments and to fix some of the old things.
It is just as simple as an example, which I am going to give you here for your better understanding. Imagine you have purchased some old bicycles in a wholesale market, with some of the parts missing.
You can find the spare parts at a cheaper rate from the market. So the bicycle has a total cost of $300 for you. Here you decide to fix it up, make a brand new polish over it, and to fix the missing parts Just Looking like a New One then you can sell it around $600.
As a Mortgage Banker for 12 years I have been able establish relationships with private investors who make hard money loans for residential and commercial projects. If you require financing for your real estate investment deals, whether commercial or residential contact me above.
I would like to give you a piece of advice here, as to not get involved in such activity. You have to get a proper ownership of the recently bought house, on your name or on the name of your own corporation.
You can get hard money loans from the lending agencies, but they have no right to make any claim over it, unless you have not paid back the money in a time span commonly called Seasoning Time Frame.
I am sure you would have learnt well enough before your first investment, as to avoid any of such situations.
You are not supposed to look at the process of Flipping Homes, as a non realistic approach. All you require is to take some hard money loans from a reliable lending agency, and to make a profit over it by making necessary amendments and to fix some of the old things.
It is just as simple as an example, which I am going to give you here for your better understanding. Imagine you have purchased some old bicycles in a wholesale market, with some of the parts missing.
You can find the spare parts at a cheaper rate from the market. So the bicycle has a total cost of $300 for you. Here you decide to fix it up, make a brand new polish over it, and to fix the missing parts Just Looking like a New One then you can sell it around $600.
As a Mortgage Banker for 12 years I have been able establish relationships with private investors who make hard money loans for residential and commercial projects. If you require financing for your real estate investment deals, whether commercial or residential contact me above.
from Real Estate Investing Tips - LM2 Investment Group - Blog http://ift.tt/1erVmGl
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