Oregon Hard Money Lenders Provide Fast Cash Loans for Investment Properties
Successful real estate investing requires knowledge of the market and a well-defined strategy.
Investing in fixer-uppers appeals to many real estate investors, from first-time buyers to seasoned house flippers. Their lower entry price and potential return make them a powerful way to build and grow a real estate portfolio.
But in a competitive real estate market, where listings are tight and multiple offers are common, it can be easy to get caught up in the urgency and commit to a property that doesn’t make financial sense.
Here’s a quick checklist of things to carefully evaluate prior to putting an offer on a fix-and-flip:
Quick Fixer-Upper Pre-Offer Checklist
- Foundation & Structure: Inspect the interior and exterior of the property for cracks in the foundation, uneven floors, or signs of structural shifting – especially around doors and windows.
- Bathrooms & Bedrooms: Evaluate the layout and number of bedrooms and bathrooms. Are there enough to meet market expectations? For example, a single-bath home may limit resale appeal.
- Water Damage: Research past flooding or flood zone issues. Check walls, ceilings, and basement areas for signs of moisture, stains, or mold.
- Large Ticket Items: Assess the age and condition of the water heater, furnace, roof, fireplace, and other major systems to determine anticipated repairs or replacement costs.
- Budget: Create your full project budget including purchase price, improvements, maintenance, insurance, and holding costs. Have a detailed knowledge of renovation costs – and plan for overages of up to 20%.
- Inspection: Identify a reliable, experienced inspector you can call on when a property of interest comes along so you can act quickly.
- Financing: Have your financing options in place before making an offer to stay competitive. (See below!)
Use this checklist as your guide. Make the right offer on the right property for a successful return on your investment.
Our Oregon Private Money Lender Team Offers Equity Loans
Even the best-planned fixer-upper project can be upended by unexpected remodeling costs or repairs. Hard money lenders offer fast and convenient funding solutions to investors when conventional loans aren’t available. Private money lender Gregory M. Russell has worked with house flippers and real estate investors across Oregon for over 30 years, helping them to secure the financing they need to move quickly. Call us at 1-888-477-0444 to learn about our hard money loan services. We’re always happy to talk. Ready to apply? Complete our online form loan request form today.