Successful Real Estate Investing – The Right Property
Successful Real Estate Investing
Finding The Right Property
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Ah, the thrilling world of Fix-and-Flip and BRRRR (Buy, Rehab, Rent, Refinance, Repeat) strategies in successful real estate investing. It’s like being in a reality TV show where you’re both the star and the one yelling at the TV. Here are some quirky hurdles investors face in this high-stakes game that FBC Funding partnered with REIDEAL MASTER can help you overcome and win in successful real estate investing.
Challenges to Successful Real Estate Investing
1. The Great Property Hunt: Finding a property for fix-and-flip or BRRRR is like going on a blind date, except your date is an investment property, and it might have plumbing issues. You’re looking for the not-too-pretty, not-too-ugly duckling that you can turn into a swan, preferably at the right price for the right profit.
- Winning at Successful Real Estate Investing REiDeal Master will help you find the right property ant the right price so you make the right profit.
2. Budget Balancing Act: Setting a budget for these projects is like playing Jenga with your finances. Stack the blocks too high (overestimate), and you’re in trouble. Stack them too low (underestimate), and you’re in even bigger trouble. You need just the right touch to make sure your financial tower doesn’t topple over.
- The budgeting features with the REiDeal Master calculators help you keep on track for successful real estate investing.
3. Renovation Roulette, Part Deux: Ah, renovations – the bread and butter of fix-and-flip. Every project is a surprise party you didn’t plan. What’s behind that wall? Termites having a party? Old wiring playing Twister? You never know what you’re going to get, but it’s always an adventure.
- With ReiDeal Master not only will you be able to estimate the project costs but also help you manage the project knowing the estimated costs and the time to get things done. But it is up to you to thoroughly vet your contractors. The vetting process is not just on price and quality of work, but you must also ensure the contractor will keep the project on time.
4. Time Crunch Tango: In fix-and-flip, time is money, literally. Every day the property isn’t sold or rented is a day you’re not making money. It’s like trying to beat your own high score in a race against time, except the high score is your mortgage payment, utilities and other ongoing expenses.
- Sometime it is worth it to pay a little extra to ensure the project is completed on time and on budget. REiDeal Master project management features will help you.
5. Financing Hokey Pokey: Finding financing for these projects can feel like doing the hokey pokey. You put your credit score in, you take your savings out, you put your stress level up, and you shake it all about. You do the financing hokey and you turn the property around. That’s what it’s all about!
- Not only can FBC Funding prequalify you for rehab funding, FBC can also prequalify you for long term rental funding if you are practicing BRRRR.
6. Market Mood Swings: The market has more mood swings than a teenager. What worked last year, last month, or even last week might not work today. Keeping up with market trends is like trying to surf on quicksand – exciting but slightly terrifying.
- REiDeal Master is your partner in not only helping you find the property, analyzing the as is market value, rehab costs, after repair value and market rents.
7. Tenant Time Trials: For BRRRR investors, once the place is rehabbed, you need tenants, pronto! It’s like hosting a party and waiting for guests to arrive. You want good tenants, and you want them fast, because an empty property is like a fridge light – it doesn’t make you any money if no one’s opening the door.
- Armed with the proper market information will make it easier to find the right tenants quickly.
In the end, despite the rollercoaster of challenges, fix-and-flip and BRRRR strategies can be incredibly rewarding. It’s a bit like assembling a massive puzzle. When the final piece is in place, you step back, admire your handiwork, knowing you have mastered Successful Real Estate Investing.
Now – onto the next puzzle!
FBC Funding and REiDeal Master will help you succeed in this real estate investor game.
For more information for Successful Real Estate Investing
call 888-848-3114
email louisj@fbcfunding.com
