Here’s What it Takes to Be a Rebel Rehabber/ Fix & Flip Pro

Curious what it takes to be a rebel rehabber? At Level 4 Funding, we have the pleasure of helping some amazing people who work in the fix and flip business and sometimes they’re kind enough to share their stories with us. We recently had the pleasure of speaking with Yvette Stevens of Miami Beach Fix & Flip, and she not only gave us her personal story, but some epic tips for those of you who are interested in becoming a house flipper as well.

Yvette Always had a Fascination with Finance and Homes

While she may not have known it at the time, Yvette was being primed for the fix and flip business from an early age. Growing up in Chicago, she often visited her father’s construction sites and fell in love. It wasn’t long before she was begging her parents to take her on tours of the city, so she could soak up the architecture and imagine what it would be like to create similar homes. While other kids were nagging their parents for spending cash, Yvette was happily balancing her mother’s checkbook and paying the household bills. It’s no surprise, then, that when it was time for Yvette to choose a career, she jumped headfirst into lending.

One of Yvette’s current projects: completed stock plan, a 2,721-square-foot beauty

She Decided to Kiss the Corporate Ceiling Goodbye

Although Yvette loved many aspects of her career, particularly reading the plans that came in with loan applications, she wasn’t content to sit still. “Corporate America has a ceiling,” she says, “especially for women.” She rebelled. Using her expertise in both construction and lending, Yvette began transitioning into development in 2005, building homes from the ground up.

The Market Crash Left Her with “Beans”

“Real estate goes in ten-year cycles,” she says. The money, mortgages, real estate, and politics are all tied together, resulting in regular shifts. This, she says, is also the cause of the “steak and beans” lending cycle. During lean times, Yvette has been able to refocus on her career in finance, while searching for development opportunities when the market has been good. Like many others, the crash of 2008 hit Yvette hard. She was working on building an entire subdivision that September, but she managed to climb back up out of it and now does fix-and-flip work too.

When Choosing Fix-and-Flip Properties, Yvette Goes for a Blank Slate

Every fix-and-flip pro has a specialty. For Yvette, her ideal property is one she can tear down to the studs, simply because she loves having a blank slate to work with. “The uglier they are, the more we like them,” she says. Her current project is an older home in a historic district, which comes with rigid requirements for what can be done to the outside of the home, but she doesn’t mind at all. “Construction feeds my creative side,” she adds. Her primary focus is Florida these days, but Yvette researches various markets and finds new opportunities all over the country.

Yvette Offers a Wealth of Advice for Potential Fix-and-Flippers

“It’s not that easy,” she says. “People think they’re going to jump in and make money,” but there’s so much more involved. You have to “live, breathe, and eat real estate.”

“You’ve gotta have some cash.” Even if you get 100%, you’ll need to have money set aside for things like closing and emergencies.

“Look at it like a line of credit.” Lenders look for 20% verified liquid assets in order to ensure the borrower can finish the project. “Be prepared. Everybody wants something for nothing these days, but it just doesn’t work that way.”

“Learn, learn, learn before you earn.” Research your market; don’t jump into it. Get a good understanding of how credit and assets work. Learn about the business and concentrate on a market. Yvette’s a fan of BiggerPockets.com and points out that newcomers may benefit from the free information and tools the site offers, like fix-and-flip calculators.

“Make a lot of offers. Keep throwing them up against the wall until one sticks.” Resilience is paramount because you’ll get a lot of rejections before you find one that’s really a great deal you can work with.

“Love what you do. If it’s not fun, you’re not going to be successful.” There will be a lot of ups and downs when you do home rehabs. Enjoying what you do will keep you motivated and on your toes, even when things are difficult.

Learn More

If you’d like to connect with Yvette, head over to her LinkedIn profile and say “Hello.” We’ll be covering the stories of other Level 4 Funding clients as well, so pop back over soon for the next installment. You can also reach out to us directly if you’re interested in financing your next fix-and-flip with a hard money loan.

Dennis Dahlberg
Broker/RI/CEO/MLO
Level 4 Funding LLC  Private Hard Money Lender
Arizona Office:  (623) 582-4444
dennis@level4funding.com NMLS 1057378 | AZMB 0923961 | MLO 1057378
22601 N 19th Ave Suite 112 | Phoenix | AZ | 85027

Using Swift Hard Money Loans, Texas House Flippers Reap Benefits

In the real estate industry, being able to act fast is essential to your success. Using hard money loans, Texas house flippers can move swiftly, to generate bigger profits.

It’s always said that “money talks,” and in the real estate industry, this is true now more than ever. Years ago, everybody was in on the house flipping game. Nowadays, it’s usually just seasoned veterans and starry-eyed virgin homeowners that eyeball the properties, but being able to act fast and put money on the table remain absolute essentials for being successful.

Having access to solid funds gives you an edge in negotiations. As any experienced rehabber knows, many original homeowners are eager to unload their “money pits,” because they don’t even know where to begin when it comes to repairs. The idea of correcting defects in the home is so intimidating, that they’d rather grab what cash they can, and exit before the deal falls through. When you have the expertise to make the necessary repairs and improvements, and have exercised diligence, there’s a good chance you can offer the seller far less than they’re asking if you’ve got fast access to cash.

By having access to hard money loans, Texas rehabbers also win more bids. Experienced home sellers and real estate agents know what a hassle it is to go through the process of obtaining a traditional mortgage. Some policies that have recently been enacted can add weeks onto the wait time, and that’s only if the buyer’s mortgage is approved. Because of this, sellers often jump at the chance to work with someone who can streamline the process.

When Providing Hard Money Loans, Texas Lenders Have Minimal Eligibility Requirements

There are a lot of similarities between the people who provide this type of financing and rehabbers. First of all, you’re both investors. Secondly, your goal is to pour yourself into a project, and make a swift departure while securing a profit. That’s exactly what they do, so they don’t worry too much about your personal history. Instead, they evaluate the value of the project you’re working on, and what the market will bear for the home. Using hard money loans, Texas rehab funding can be provided in days, versus the weeks and months that traditional banks take.

There are some things to consider before going for hard money loans, Texas rehabbers should know about.

Having a solid exit strategy is imperative, as the hard money loans Texas lenders provide are generally short-term. This means that you’ll need to be certain you can flip the home within that time period, or have an alternate mode of funding or financing lined up for when the period ends. Most experienced rehabbers are very familiar with this anyway, and have a strategy, timeline, and goals mapped out before an offer is placed on a property. However, if governmental red tape throws a proverbial wrench in building alterations, or other unexpected delays occur, it’s important to have a contingency plan lined up. When this is taken care of, getting the funds needed to flip homes at a rapid pace and making a serious profit is much simpler.

Dennis Dahlberg
Broker/RI/CEO/MLO

Level 4 Funding LLC
Arizona Tel:  (623) 582-4444 
Texas Tel:     (512) 516-1177 
dennis@level4funding.com
www.Level4Funding.com

NMLS 1057378 | AZMB 0923961 | MLO 1057378
23335 N 18th Drive Suite 120
Phoenix AZ 85027

  

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 38 years. They have 2 beautiful daughters 4 amazing grandchildren. Dennis has been an Arizona resident for the past 32 years.

How to Evaluate a Fix-and-Flip Before Contacting Texas Hard Money Lenders

The media has sensationalized the rehab and flip business, making it seem like it’s easy cash for anyone who jumps in. The truth is, you have to have a keen eye for investing, and know how to evaluate the home before you get started, especially when you’re using Texas hard moneylenders.

Homes that have fallen into disrepair can be a rehabbers dream. A seasoned pro can size up a home fairly quickly, and make an educated assessment as to whether it will provide a solid return on investment after all the work is complete. This evaluation is often the largest determining factor in whether someone is successful in the fix-and-flip business, so it literally pays to do the research ahead of time.

1.       Calculate what the home will be worth after repairs. To do this, you’ll need to research what comparable homes in the area have sold for over the past 90 to 120 days. They should be in a similar neighborhood, have the same number of bedrooms, bathrooms, and square footage, and also be about the same age. Target an area within ½ to ¾ of a mile from your potential rehab project.

2.       Consider what the repairs should cost. Some re-habbers swear by a $20 per square-foot rule when it comes to cosmetic renovations. However, it’s always wise to bring a contractor on board to verify your estimates before you finalize things, even if you’re going to do the work yourself.

3.       Include any contract fees and the loan costs from your Texas hard money lenders in your total expense estimates.

How to Tell if a Flip Using Texas Hard Money Lenders will Be Successful

Unfortunately, there are no guarantees when it comes to rehabbing and flipping houses. Even experts in the industry get burned from time to time, so you have to exercise diligence, and leave yourself wiggle room. The amount you offer for the home should be enough that after you pay fees, repay your Texas hard moneylenders, and cover repairs, that there’s a tidy sum left to reimburse you for your efforts. It’s wise to build a cushion in when you give your offer, though if you go too low, you could be denied. Equally, having fast access to cash may enable you to negotiate a better deal, so take that into consideration when you make an offer on a property, too.

You should only borrow from Texas hard money lenders if you’ve done the research and you’re familiar with potential rehab pitfalls.

There’s a big difference between making a calculated decision based on knowledge of the housing market, and in making repairs with the hope to turn a profit. Not every rebab is worthwhile. If you’re just starting out, choose the simplest projects, and include professional contractors in your budget. You can test your knowledge in rehabs by scouring a neighborhood, and making your own predictions of what houses will sell for once they’ve undergone renovations. You may also have better success if you find a seasoned rehabber and spend some time working as an apprentice for him. Fix-and-flips aren’t for everyone, and getting started in the industry requires real estate knowledge, as well as a solid background in home repair and estimates. Texas hard money lenders can provide the short-term cash you need to make a deal, but you’ll need to have the knowledge to ensure you’re making a wise investment. If you have these things in your own mental toolbox, fix-and-flips can be incredibly lucrative.

Dennis Dahlberg
Broker/RI/CEO/MLO

Level 4 Funding LLC
Arizona Tel:  (623) 582-4444 
Texas Tel:     (512) 516-1177 
dennis@level4funding.com
www.Level4Funding.com

NMLS 1057378 | AZMB 0923961 | MLO 1057378
23335 N 18th Drive Suite 120
Phoenix AZ 85027

  

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 38 years. They have 2 beautiful daughters 4 amazing grandchildren. Dennis has been an Arizona resident for the past 32 years.

How To Make Top Dollar With Hard Money LendersTexas!

Real estate investors are always trying to make the most  from their investments. For many investors, this means purchasing a foreclosure and then fixing it up and selling for a profit. However, some investors end up losing money because of the renovations they do or do not do. If you are looking to renovate a house, listen to the people who know how to make money, hard money lenders Texas!

Hard money lenders Texas have real estate investment experience. A lot of it. If you are a new investor looking to use Texas hard money to fix and flip a property for profit, you may be unsure of what renovations to do to get the most bang for your buck. If you are confused about where to spend you money, take it from hard money lenders Texas, the investment property experts.

Here are 5 home improvements that hard money lenders Texas recommend to make the most money on your fix and flip:

1. Paint: Repainting a home a neutral color that will appeal to almost any buyer is always a good idea. It will help get prospective buyers through the door and it will make them feel like the home is finished. Just don't choose anything too colorful or taste specific.

2. Fix any visible damage: A small crack in the ceiling from settling may not be a big deal, but even cosmetic fixes can turn off some finicky buyers. Make sure to fix any small issues so that buyers see a finished home, not extra work they have to do.

3. Lighting: According to hard money lenders Texas, overhead lighting is often overlooked by real estate investors and it is very important to buyers. Installing good lighting and attractive fixtures is relatively cheap and will get you a high return on your investment.

4. Landscaping: Often investors will spend their entire budget inside the home and neglect the outside. While luxury landscaping is not necessary, you should use some of your Texas hard money budget to install some basic landscaping in the front and back yards.

5. Home staging: Once you have the home fixed up, it pays to have it staged, at least a little. Renting some basic staging furniture and accessories can help make buyers feel at home in the space, which will make the home sell quickly and for more money.

Using these tips from hard money lenders Texas will help you get top dollar for your fix and flip investment property. Using the right finishes and doing the right renovations could even result in a bidding war for your investment, driving your profits up even further. Take it from hard money lenders Texas, these improvements will sell your home!

Dennis Dahlberg
Broker/RI/CEO/MLO

Level 4 Funding LLC
Arizona Tel:  (623) 582-4444 
Texas Tel:     (512) 516-1177 
dennis@level4funding.com
www.Level4Funding.com

NMLS 1057378 | AZMB 0923961 | MLO 1057378
23335 N 18th Drive Suite 120
Phoenix AZ 85027

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 38 years. They have 2 beautiful daughters 4 amazing grandchildren. Dennis has been an Arizona resident for the past 32 years.

How to Avoid Pitfalls That Delay Closing with Texas Hard Money Lenders

During a real estate sale, there are many issues that can come up that will delay or even cancel the closing of a property. If you are an investor looking to purchase an income property, this can be very disheartening. You can help the closing process go more smoothly by getting a hard money loan from Texas hard money lenders. 

There are many, many issues that can come up during the escrow period that can cause a sale to be delayed or even fall through. Everything from seller's remorse, to a bad inspection, to an inability to secure financing can make a property sale a no go. If you are a new real estate investor, it is easy to get discouraged if a property falls through. However, with Texas hard money lenders you can take some control of the situation and make your deal less likely to fall flat. 

Here are a few common reasons a real estate transaction fails to close and how Texas hard money lenders can make it less likely to happen.

• A Bad Home Inspection: Many real estate deals end up dead in the water due to a bad home inspection. Sellers won't fix major issues or buyers find that there is simply more to do than they can handle. With Texas hard money loans from Texas hard money lenders, you can usually be assured that even with a bad inspection, the property will still be yours. You can cross collateralize with other assets to borrow more money if there are more issues than you anticipated. Also, since you are planning to rehab the property anyway, you are less likely to have to ask for repairs. 
• Seller's Remorse: Often, sellers will have second thoughts about selling their home. With the long, drawn out financing and closing process of most traditional lenders, the seller has a lot of time to get cold feet. With a hard money loan from Texas hard money lenders, the timeline is accelerated and closing often only takes a matter of weeks. Less time to reminisce means less time to pull out of the deal and a higher likelihood that you will close. 
• Financing Falls Through: Sometimes a buyer's financing will fall through due to a blip on a
  
  credit report or income issue discovered during underwriting. Luckily, with Texas hard money lenders, your financing is contingent on the value of the property you are buying, not your personal finances so you don't have to worry about this issue. 

Using experienced Texas hard money lenders to fund your investment property can help you avoid some of the pitfalls that lead to a deal falling through. When you are ready to get that real estate investment going, call a hard money lender to get started. 

Dennis Dahlberg
Broker/RI/CEO/MLO

Level 4 Funding LLC
Arizona Tel:  (623) 582-4444 
Texas Tel:     (512) 516-1177 
dennis@level4funding.com
www.Level4Funding.com

NMLS 1057378 | AZMB 0923961 | MLO 1057378
23335 N 18th Drive Suite 120
Phoenix AZ 85027

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 38 years. They have 2 beautiful daughters 4 amazing grandchildren. Dennis has been an Arizona resident for the past 32 years.

How to Get the Most Bang for Your Buck With Hard Money Loans Texas!

Hard money loans Texas are a special type of asset based loan that can be used to purchase investment properties. Knowing how to best use your funds will help you get the most bang for your buck!

If you are looking into hard money loans Texas, you already know that they are a great way to finance an investment property. Texas hard money loans are asset based loans that are given to real estate investors and in many cases, used to rehab a property and sell it for a profit. If you have an eye for design, don't mind a little hard work, and like making money, a fix and flip could be the right real estate investment for you.

However, like any investment, a fix and flip can have its risks. When you are using your funds from hard money loans Texas, you want to make sure that you are getting the most bang for your buck, honey for your money, return on your investment, the list if idioms goes on, but you get the picture. In order to do so, it is important that you use your capital wisely and make smart choices on what you fix up in the property. Here is a list of the top 4 home renovations that will help you sell your fix and flip for top dollar:

1. Landscaping: A barren backyard or lack of a sprinkler system will make your home less appealing.You never want a potential buyer to see work they have to do. Do it for them, but don't over do it. Basic landscaping won't cost much and will give you about a 250% return. 

2. Home Staging: You want the home to show like a home a buyer would want to live in, not a vacant property. For this reason many real estate agents recommend that you rent furniture and accessories to stage the investment property. This will help it sell quickly. Costs for home staging vary but you can usually plan on about a 300% return on whatever you end up investing. Home staging can be a great use of your hard money loans Texas funds.

3. Good indoor lighting can make your home shine. Buyers won't even notice the gorgeous granite counter tops if they can't see them so make sure you have plenty of built in lighting. This improvement costs around $400 and can boast over a 300% return on that investment so it is definitely worth it.

4. Kitchen: using your Texas hard money loan to redo an old, dated, or non-existent kitchen isn't just smart, it is essential. It is often said that the kitchen is the heart of the home, especially for Texas mamas. Make sure it is nice but don't overspend. Depending on your finishes you can expect to earn anywhere from 60 to 120 percent return on your kitchen investment.

Use your hard money loans Texas assets to make improvements to the property that will earn you the most money. Getting the most bang for you buck will put more cash in your pocket!

Dennis Dahlberg
Broker/RI/CEO/MLO

Level 4 Funding LLC
Arizona Tel:  (623) 582-4444 
Texas Tel:     (512) 516-1177 
dennis@level4funding.com
www.Level4Funding.com

NMLS 1057378 | AZMB 0923961 | MLO 1057378
23335 N 18th Drive Suite 120
Phoenix AZ 85027

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 38 years. They have 2 beautiful daughters 4 amazing grandchildren. Dennis has been an Arizona resident for the past 32 years.

How to Make Money: Best Renovations According to Hard Money Lenders Texas

When it comes to home renovations, hard money lenders Texas are a great source of information. Like you, they want to have the property sell quickly and for top dollar. They have a lot of experience with fix and flip properties and can help guide you in the direction of what renovations help sell you home fast. 

When you think of home renovation, you probably don't immediately thing of hard money lenders Texas. While hard money lenders specialize in hard money loans Texas, they have worked with a lot of real estate investment deals, many of which are fix and flips. As a result, they usually have first hand knowledge of what kind of renovations will help you earn top dollar when selling a home as a fix and flip investment.

Here a few examples of home renovations that hard money lenders Texas would recommend to help you earn the most money on your fix and flip investment:

1. Lighting: Good indoor lighting can make your home shine. Buyers won't even notice the gorgeous granite counter tops if they can't see them so make sure you have plenty of built in lighting. This improvement costs around $400 and can boast over a 300% return on that investment so it is definitely worth it.

2. Home Staging: You want the home to show like a home a buyer would want to live in, not a vacant property. For this reason, hard money lenders Texas and many real estate agents recommend that you rent furniture and accessories to stage the investment property. This will help it sell quickly. Costs for home staging vary but you can usually plan on about a 300% return on whatever you end up investing.

3. Landscaping: A barren backyard or lack of a sprinkler system will make your home less appealing.You never want a potential buyer to see work they have to do. Do it for them, but don't over do it. Basic landscaping won't cost much and will give you about a 250% return. However, according to hard money lenders Texas, there is one caveat here, don't spring for luxury landscaping (think hardscapes, fountains, extended patios, outdoor kitchens, etc) unless the neighborhood warrants it. You often won't even get a 100% return on this kind of luxury enhancement.

So, even thought Texas hard money lenders may not be your first thought when it comes to renovation and design, they should be!

Hard money lenders Texas have "been there, done that" when it comes to fix and flip investment properties. Trust their advice when you are wondering what renovations are an absolute must to sell your property fast!

Dennis Dahlberg
Broker/RI/CEO/MLO

Level 4 Funding LLC
Arizona Tel:  (623) 582-4444 
Texas Tel:     (512) 516-1177 
dennis@level4funding.com
www.Level4Funding.com

NMLS 1057378 | AZMB 0923961 | MLO 1057378
23335 N 18th Drive Suite 120
Phoenix AZ 85027

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 38 years. They have 2 beautiful daughters 4 amazing grandchildren. Dennis has been an Arizona resident for the past 32 years.