Texas real estate is hot and its making it hard for investors to find the right deals. Keep some thoughts in mind:
- Will my property make a good rental (yes , we call it rehab to rental with hard money
- Have i considered all my costs (hard, soft, carrying…)
- What is the level of execution(do you and/or your contractors have the skill) ?
- Is your hard money lender flexible (can you extend loan, convert to long term )
- have you discussed with your lender a long term loan – do you qualify
The trap we see often is loan coming due and property has not sold (usually because of work not completed or priced too high. The borrower becomes stuck in a loan that he cant get out of – (ie. credit, too high ltv , maybe you borrowered 100% of cost …)
Lets us help you with avoiding these issues – call us today 214 213 8967