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4 Rookie Investor Mistakes to Avoid

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If you’re using a Arizona Hard Money Loan to fix and flip a property, there are some pitfalls you may encounter. Here’s some things you should avoid to get the best ROI on your investment property.Not all fix and flips are created equal. There are bumps in the road that you might encounter and it’s important to see them coming and make sure you don’t fall prey to the pitfalls of an unsuccessful fix and flip. Your Arizona Hard Money Loan needs to be used responsibly and efficiently so you don’t lose money.Here are some things you should be aware of when completing your first flip and flip using a Arizona Hard Money Loan.Going it AloneThe most successful investors have a team of trusted vendors from real estate agents to lawyers. First time flippers and investors can run into unforeseen issues so having a team in place that you can go to when hiccups happen can help you from hitting the point of no return with your fix and flip.Not Having Good Property InsuranceNot only can unforeseen i…

Arizona Hard Money Loan Funding: A Step By Step Look

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The Arizona Hard Money Loan process goes step by step. Here’s a look into the roadmap of funding a Arizona Hard Money Loan.Arizona Hard Money Loans vary from Lender to Lender , but the process will be very similar no matter who you’re working with. It’s a similar process to getting a traditional loan funded, but without the strict guidelines for credit and debt to income. There will be tweaks and differences between a Arizona Hard Money Loan and a traditional loan. Here’s the step by step process of a Arizona Hard Money Loanfrom beginning to end.IntroductionYou’ll first speak with a Lender about your idea for the Arizona Hard Money Loan. This will include a project pitch that will introduce them to your plan so they can decide if it’s an investment that they want to make. Not only will they ask about your renovation plans, but they will also want to know about your portfolio as an investor, asking about things like past fix and flips or financial investment history.UnderwritingThis is…

Arizona Commercial Mortgage Lending 101

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Arizona Commercial investment is great to boost your portfolio in a big, big way. Here’s what you need to know to get started.Arizona Commercial mortgage lending allows investors to expand their portfolio by purchasing a property that can be leased out for business purposes. Arizona Commercial investment can be a huge income stream, much higher than single family residential. There are four main types of Arizona Commercial investmentthat you should be aware of when you make your decision to step into the Arizona Commercial sector and begin to seek Arizona Commercial mortgage lending opportunities. RetailFrom strip malls to restaurants, retail Arizona Commercial investment that can be a big money maker in a big city like Phoenix. IndustrialPhoenix is an urban city with lots of opportunity in the industrial sphere. Warehouses and manufacturing plants are all over the valley.OfficeThis is the most common type of Arizona Commercial real estate and can vary widely in size and use. The size…

Raise Your ROI by Investing in Desirably Located Homes

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Location is one of the most important factors when selecting your investment property. Here are some things you should look for before choosing a property to present when you apply for a Arizona Hard Money Loan)One of the biggest mistakes an investor can make is not researching the location of a property before starting a fix and flip or using the home as a rental. It’s important to look at the geographical location to determine if it’s going to be desirable for a potential buyer or renter. Your Arizona Hard Money Loan is going to help you repair and upgrade the property, but it’s not going to be able to fix where it is. You can have the most beautiful home in the neighborhood but if it’s not a neighborhood that people want to live you’re going to have a hard time selling or renting.Here are some things you should research about the location before applying for your Arizona Hard Money Loan:Public TransportationMany people rely on public transportation to get to work, school, to shop, …

The Fix and Flip Lingo You Need to Know

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If you’re new to the world of fix and flip you’ll need to become familiar with some terms that you will hear when working with a hard money Lender .Fix and flip professionals have tons of verbiage, acronyms, and terms that you may not be familiar with if you’re new to the investment world. Each of these terms is important because they explain bits and pieces of the process and information that you’ll need to be successful at fixing and flipping.A Arizona Hard Money Lenderwill throw some of these terms around as well so knowing them before you apply for your loan will give you a leg up. When you’re applying here are some terms your Arizona Hard Money Lendermay use:ARVThis stands for the After Repair Value. It’s the number your property is expected to be worth after you complete repairs and upgrades.HVACThis is one you’ll hear often and stands for heating, ventilating, and air conditioning.CMAA Competitive Market Analysis is what you can use to come up with your ARV based on other compa…

What You Need to Get Your Arizona Hard Money Loan Approved Quickly

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Arizona Hard Money Lenders will require certain things in order to approve your loan. Here’s a list of things you should have ready before you apply.Each Arizona Hard Money Lender is different from the last, but there are certain things that they will ask for across the board. These things will need to be provided when applying for the Arizona Hard Money Loan so having these in hand will help you get your loan approved faster so you can get to work on your investment property. Purchase ContractIf you’re buying a property for fix and flip you want to have the purchase contract ready so it can be submitted as soon as your loan is ready for funding. You can lose valuable time by waiting until the last minute to get this done. Title ReportWhen you’re applying for your Arizona Hard Money Loan the Lender can get their hands on the title report, but it’s better to come with that in hand. Contractor BidsThe Lender will want to know what their Arizona Hard Money Loan is going to fund. Having w…