House flipping is more popular than ever. However, in such a competitive market, house flipping mistakes can be especially costly. Last year, homes flipped by investors represented 8.4 percent of all U.S. home sales. That report—by property and real estate data provider ATTOM—also revealed gross profit margins on those flips were the lowest since 2008.…
DetailsFor hard money lenders, the real estate scope of work (SOW) is the most important element of a loan application. It’s the blueprint that will ensure builders and contractors stay on schedule and under budget. But just as important, an effective SOW shows hard money lenders that you are a worthy investment. This is your…
DetailsDo you want to make money flipping houses without having to make repairs and upgrades? You can use your hard money loan to invest in a move-in ready home—also called a spec home. A spec home is a new house where nothing is broken and everything is already up to date. Home construction companies routinely…
DetailsConventional mortgage lenders say, “show me the money.” That requires a thorough, time-consuming examination of an applicant’s credit and finances. Hard money lenders like Black Brook Capital say, “show me that you can make the money.” We don’t focus on an applicant’s credit worthiness or employment history—or require stacks of documents. Our expectations are more…
DetailsFlipping houses is becoming more and more popular in recent years. Hard money lenders have been at the heart of this trend, financing distressed property loans that conventional mortgage lenders won’t touch. That 8.4 percent—from a report by Attom—is the highest since the data was first tracked in 2005. That’s the same year A&E premiered…
DetailsBefore hard money lenders will consider you for a loan, you have to find a property. Whether you want to flip or rent (see the BRRRR method), the distressed property itself is the centerpiece of the deal. But what exactly is a distressed property? And what’s the best way to find one? This article will…
DetailsIf you’re seeking a short-term loan to purchase, rehab, and rent a house, you may find the terms of a conventional mortgage to be too long. Or maybe your credit score or your financial past disqualifies you from a traditional loan. Fortunately, a tried-and-true funding source is gaining popularity among real estate investors: Hard money…
DetailsBRRRR stands for “buy, rehab, rent, refinance, repeat,” and describes a step-by-step process of real estate investment. Hard money lenders like Black Brook Capital are a great option for BRRRR investors. Traditional mortgage lenders often decline loan applications for the distressed properties that are key to the BRRRR method. How the BRRRR method works BRRRR works…
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