A successful real estate investment means finding the best, most lucrative properties. Many investors obtain hard money loans to finance a flip only to have the property sit for months in the market due to factors such as overpricing or being located in an undesirable neighborhood. Hard money loans are generally short-term, which means there is little leeway when it comes to the amount of time spent on the market. So where do you find the best properties?
Check out the neighborhoods. As you’re already aware, real estate deals are all about location. Check out which ones have positive sales records, or which ones tend to attract buyers. See if there are any homes for sale or up for foreclosure.
Explore foreclosures. The perks of checking out foreclosures are many. These properties sell below market value, there is typically less competition, and there is a need for them to be sold quickly, which means getting money back in your pocket that much faster.
Network and check out real estate groups. Meeting with investors means receiving vital information on where the best deals are. They may also provide excellent advice on reliable hard money lenders and where to find contractors to work on your flip.
This update is brought to you by Michael Internoscia, Principal Broker and CEO of hard money lenders Florida company M & M Private Lending Group. We have over three decades of experience specializing in private money real estate loans and we pride ourselves on providing our esteemed clients a service that’s personalized while delivering low rates and closing costs. We also offer mortgage note investments and have worked extensively with brokers and affiliates. Call 305-363-7169 or 954-445-4434 to speak with a lending representative about our Florida private loans or visit our website at https://mmprivatelending.com to fill out an application form.