Tag Archive for: # fix and flip loan

Homegrown Happiness

Homegrown happiness is a goal that every homeowner has. This home, recently flipped by one of our long-time, outstanding flippers, Ryan, goes far beyond homegrown happiness. The happiness doesn’t start when you walk in the door, it starts when you walk onto the property. What he did to the land and the exterior of the home is really what makes this house shine.

When he first walked onto the property, it was as though the land was trying to take back the area and swallow the house back into its wild, arboraceous garden. There was a thick foundation of old, decaying leaves covering the land from the edges of the house all the way out to the fence lines. There were dead tree limbs laying to and fro. The fences around the property were cracked, stained, and partially uprooted. Ryan knew that he had to start on the outside if he even had a chance of pulling this house out from under this mess.

With a good landscaping crew alongside him, they whipped this place into shape quickly. Give a little TLC to the land, and it will give it right back to you in spades. Homegrown happiness is found with a bright green lawn, sparkling new white paint on the fences, and the trees trimmed and happy. This property had an entirely new feel to it. It was welcoming and comforting. It made people want to take a deep, full breath and just enjoy the scenery.

And on top of the beautiful landscapes outside, he turned the interior of the house into a shockingly charming home. It goes to show that a homegrown happiness is only truly found if both the interior and the exterior of the home reflect the TLC that you put into it.

Do You Need a Hard Money Loan?

With hard money loans, it’s very important to shop around. Every hard money lender will offer a slightly different type of loan, with slightly different requirements.

There is a loan that is perfect for your credit, your plan, and your property. You just have to find it.


Contact us for a Hard Money Loan

Check us out on YouTube

Hard Money Mike funds loans in Colorado, Oklahoma, and Texas.

Make Yourself at Home

Many homeowners have a goal of making their home so comfortable and inviting, that they can say to anyone, “Make Yourself at Home”. For some, it comes easily, as they are natural caretakers and hosts. For others, it comes with much more effort. But the end result is always the same. People are so comfortable and have such a feeling of welcome in the home that they almost don’t want to leave.

That, right there, was the main goal that Ben had when fixing up and flipping this home. He wanted to provide this home with such a magical makeover that the new owners would feel as though their home was so inviting and cozy that they could welcome anyone in and offer them that homely warmth that we all love so dearly.

Ben knew that a lot of that comfort comes in how the home is furnished and designed. However, he also knew that a big part also comes from the house itself, and the feeling you get when you walk in. The bones and structure of the home go a long way in making the house feel a certain way. In addition, the flooring, paint, and appliance choices he made were an integral part of his ultimate vision. He wanted to provide a house that had the strong beginning and foundation of the warmth and comfort that would eventually be present in the home.

With his focus set, he was able to turn this house around in less than 5 months. He purchased the home for $157,000 and ended up selling it for $312,500! Not only did he accomplish what he set out to but made more of a profit than expected in this tough market. That goes to show you: giving a house that warm and fuzzy feel goes a long way. People who have homes that are so welcoming always want to share the warmth, invite people in, and say “Make Yourself at Home!”

Do You Need a Hard Money Loan?

With hard money loans, it’s very important to shop around. Every hard money lender will offer a slightly different type of loan, with slightly different requirements.

There is a loan that is perfect for your credit, your plan, and your property. You just have to find it.


Contact us for a Hard Money Loan

Check us out on YouTube

Hard Money Mike funds loans in Colorado, Oklahoma, and Texas.

Go Big or Go Home

You’ve heard of the saying, “Go Big or Go Home”? Well, why not make it “Go Big AND Go Home”? With what we saw happen with this property in Aurora, CO, we can confidently say that Phil, the fix and flipper, pulled out all of the stops in order to make this house a home.

 

Purchased in mid-summer at $188,500.00, the house was in rough shape. Phil set his budget at $45,000.00 with everything from demo and new paint to new hardwood floors and updated appliances. Due to his keen knowledge of the area and the upper class neighborhoods nearby, he knew he had to bring his A-game, so that he did.

For instance, take a look at this half bath. He completely gutted it and replaced it with a modern, sleek look. He re-textured the walls, put in new floors, and finished it off with a gorgeous new vanity with a drop-in sink. Talk about jaw-dropping.

We move into the kitchen and see that his A-game didn’t stop in the bathroom. Again, he completely gutted it and put in new floors, new tile, new appliances, and new paint. Everything is sparkling and new. Almost too luxurious to cook in, right? No way, this kitchen offers any chef the ability to make scrumptious masterpieces that look as good as the setting they were made in.

The fact of the matter is, Phil took this home from rags to riches. He saw the beauty underneath what was left by the previous owner. And a good thing he did! He ended up selling this house for $330,000.00 after only 4 months of solid work! That’s an incredible payoff and he earned every penny. There is no doubt about it, he went BIG and made this a home.

 

Do You Need a Hard Money Loan?

With hard money loans, it’s very important to shop around. Every hard money lender will offer a slightly different type of loan, with slightly different requirements.

There is a loan that is perfect for your credit, your plan, and your property. You just have to find it.


Contact us for a Hard Money Loan

Check us out on YouTube

Hard Money Mike funds loans in Colorado, Oklahoma, and Texas.

Cottage in the City

In today’s wild and crazy world, who wouldn’t love a cottage in the city? You get the convenience of being in the city, but at the same time you get the warm, cozy feel of a cottage. And not just any cottage, this home offers far more than your average cottage. Jed and Sam found this property out of sheer luck, they weren’t even initially thinking of looking in this neighborhood. They stumbled across a diamond in the rough and knew it from the get-go.

This 5-bed, 3-bath, 2,506 square foot home hadn’t been updated in over a decade and these guys were able to purchase it for $260,000. Their scope of work included everything from demo to bathroom facelifts.

Let’s start with the kitchen. Not a bad looking kitchen to start with, the design is gorgeous. But by replacing the appliances and countertops and giving everything a new shine with some fresh paint, it looks like a brand new kitchen!

And the best part about flipping is that you don’t always have to go above and beyond. Simple fixes such as new carpet, smooth ceilings, and refinishing some wood can make all the difference.

These guys put in their best effort in the small touches that aren’t seen in the photos. Things such as closet lights that are motion detected, and mirror defoggers in all of the bathrooms so the mirrors won’t fog up during a shower. When all was said and done, this homely cottage shot up in value like this neighborhood had never seen. At the onset of this project, they set their ARV at $340,000. But interested buyer after interested buyer set the final offer price at $388,500!

Do You Need a Hard Money Loan?

With hard money loans, it’s very important to shop around. Every hard money lender will offer a slightly different type of loan, with slightly different requirements.

There is a loan that is perfect for your credit, your plan, and your property. You just have to find it.


Contact us for a Hard Money Loan

Check us out on YouTube

Hard Money Mike funds loans in Colorado, Oklahoma, and Texas.

Home on the Prairie

This ambitious fix and flipper turned this run-down home into a true home on the prairie. One of our expert flippers down in Pueblo, CO saw this home on Prairie Street and put in an offer right away. It wasn’t completely lost, and it had major potential. He purchased the 1,077 square foot home for $145,000 and had a $30,000 budget. His scope of work included updating the exterior siding, refinishing the kitchen and bathrooms, and repairing the plumbing and electrical. No easy feat!

Prairie Street is in an older neighborhood, but a lot of the homes have been updated. He wanted to make sure the charm of the home remained, while still giving the home a new and modern appeal. It all started with the kitchen. He fixed the plumbing and electrical, and then proceeded to install new cabinets, floors, and appliances. The kitchen is one of the centerpieces of the home, and he knew he had to make this room stand out. He went with a sleek look of a white subway tile backsplash, pure white cabinets, stainless steel appliances, and a grey-tones granite countertop. This design really gives off a clean and modern look, while still leaving room for the homeowner’s design choices to add some fun color.

Next, he did the same with the bathrooms by getting them fully renovated with a new and sleek look. As a result, it’s really stunning when you look at the before photo compared to the after!

Lastly, he made sure not to forget the exterior, and he cleaned up the siding and added a fresh coat of paint. Curb appeal is not something to forget, and he really brought this prairie home back to life.

He did all of this amazing work in just 4 months and was able to sell the home for $257,000! Talk about a comeback for this cute Home on the Prairie!

Do You Need a Hard Money Loan?

With hard money loans, it’s very important to shop around. Every hard money lender will offer a slightly different type of loan, with slightly different requirements.

There is a loan that is perfect for your credit, your plan, and your property. You just have to find it.


Contact us for a Hard Money Loan

Check us out on YouTube

Hard Money Mike funds loans in Colorado, Oklahoma, and Texas.

Wild, Wild Flip

When you think of Grand Junction, Colorado, do you think of a wild, wild flip? More likely, you think of the beautiful, wild wild west. The arts, the culture, and the rustic yet charming lifestyles. That’s precisely why Ted has set down roots here in Grand Junction and has a roaring fix and flip business. He’s one of the best in town, and he turns rundown homes into jaw-dropping beauties.

Let’s take a look at this 1,720 square foot home on Indian Creek Road. It was built in the late 70’s and looks like it hasn’t been updated since. Ted saw this 3 bed/2 bath home for what it’s potential was and got right to work. He purchased this home for $262,000 and set his budget to be $30,000.

Fortunately, the structural integrity of the home was not bad. So, Ted put all of his focus on remodeling the home by bringing it back to life by way of new floors, new paint, and a new layout. You can see the living room here. It looks drab and dull, with not much life. This room needed some brightness. He put hardwood floors in, painted the room white, smoothed out the ceiling and added pocket lights for a more modern appeal. And the best part, he replaced the windows, took down those old curtains, and let the sunshine do the rest.

Additionally, the kitchen needs a facelift, but only in its design. The floors and appliances needed replacing, and the cabinets needed fresh paint. It’s not much work but look what a difference it makes!

After only 3 months, Ted ending up selling this home for $385,000! This is just another example of how fix and flippers are changing our world for the better. They’re turning these rundown homes into beautiful SFHs that people can be proud to live in. Grand Junction will always be the wild, wild west, even with this wonderful wild, wild flip.

Do You Need a Hard Money Loan?

With hard money loans, it’s very important to shop around. Every hard money lender will offer a slightly different type of loan, with slightly different requirements.

There is a loan that is perfect for your credit, your plan, and your property. You just have to find it.


Contact us for a Hard Money Loan

Check us out on YouTube

Hard Money Mike funds loans in Colorado, Oklahoma, and Texas.

Fix and Flipped Into the 21st Century

Take a minute and imagine a 19th century home. Are you picturing an old, dark, creaking, small house? Well, this 2,545 square foot home in Colorado Springs just got fix and flipped into the 21st century. Christian saw this old home and saw nothing but potential. He purchased it for $347,500 with a loan for $397,500. With a $50,000 budget, he had a lot of work ahead of him!

 

Not only was the house full of 50+ year old plumbing and electrical, but the design aspects needed some serious updates. The flooring throughout the entire home needed to be replaced. The kitchen needed to be rearranged for a more open floor plan. The exterior of the home needed new paint, a new porch, and new siding. And overall, the home needed to be modernized and brightened up.

Look at this vanity choice for the master bath that Christian chose. It has a modern feel, yet it holds old-worldly charm. An excellent choice for potential buyers who want the home to still have a touch of 19th century grace.

Check out how he opened up this kitchen by lining up everything on the one side, and he brightened up the entire room with white cabinets and countertops. He had to install a smaller window to accommodate the new floor plan, but it was well worth it.

In just 6 months, Christian was able to completely renovate and revitalize this home and ended up selling it for $565,000. Overall, Christian flipped this 19th century home into a beautiful, appealing 21st century home while still holding onto the elegance and finesse that this home most assuredly had when it was first built.

 

Do You Need a Hard Money Loan?

With hard money loans, it’s very important to shop around. Every hard money lender will offer a slightly different type of loan, with slightly different requirements.

There is a loan that is perfect for your credit, your plan, and your property. You just have to find it.


Contact us for a Hard Money Loan

Check us out on YouTube

Hard Money Mike funds loans in Colorado, Oklahoma, and Texas.

Fix and Flip in Pueblo

It is so inspiring to see a successful flip, especially when the house is run-down and in dire need of some upgrades. When you can look at the before and after photos and truly be in awe at what has been accomplished, it sure does feel good!

A Fix-and-Flip in Pueblo

When Dave and Justin saw this home in Pueblo, Colorado, they didn’t see a weathered, broken home. They saw a fantastic opportunity, especially with a low purchase price of $92,720.

It’s a small home, only 955 square feet, 2 beds and 1 bath. The previous owners had the house packed full of stuff, with hardly any living space. But once it was cleared out, these guys had their work cut out for them. The bathroom needed a full remodel, the kitchen needed a facelift, the bedrooms and living space needed new carpet and paint, and the exterior needed a new roof, shutters, and paint.

That sounds like quite the scope of work, but with limited labor cost (Dave and Justin doing the work themselves), they set their budget at$10,000 and got to work.

They completely gutted the bathroom and finished it off nicely with a black and white theme and a laminate wood floor. The vast improvements in the kitchen included nice stainless-steel appliances, wood floors, black granite countertops, and crisp white cabinets. The exterior of the home was perhaps the biggest improvement of the whole project. With freshly painted siding and shutters, a new sleek roof, and an eye-grabbing new design for the front yard landscaping, these guys really made the home look as charming as ever.

Incorporating neutral colors and clean lines into a renovation can have broad appeal and attract a wide range of buyers. The design decisions these flippers made paid off in the $180,000 sale of this Pueblo property.

 

Fixer Upper in Southern Colorado

Let us walk you through this fixer upper in Southern Colorado. There are certain areas that just need fix and flippers. The homes are 40+ years old, run down, and they are ready for some TLC. When Eric found this property in Pueblo, CO, he saw the potential and put in an offer right away. It’s not a large home, only 1,240 sq. ft., but it makes up for it in charm. Eric purchased this property for $130,000 and estimated a $30,000 budget. The home didn’t need a complete renovation, but the hardwood floors needed refinishing, the carpet and paint needed to be replaced, the kitchen needed a good gutting and a facelift, the bathrooms were in dire need of some serious updates, and on top of all that, the roof needed repair.

 

The last time this home was updated was very likely in the 70’s. The kitchen had a brown linoleum floor, pale yellow cabinets, and green walls. Talk about a fixer upper! Eric decided to go with a clean, white look. With a white subway tile backsplash, crisp white wood cabinets, and a snow-white quartz countertop with eased edging. Best of all, the kitchen was modernized with energy efficient stainless-steel appliances.

Both bathrooms were stripped of their pink, grungy tile, and upgraded to the modern black and white look. The exterior of the home was repainted, the windows were replaced and shuttered, and would ya look at that! It’s much more inviting and charming and is just begging for a new family to move in and enjoy the upgrades. He was able to flip this home into something beautiful in just 4 months, and he sold the home for $230,000. The community and surrounding areas just got that much closer to moving out the “we need fix and flippers” category, and into the “you know you want to live here” category.

Do You Need a Hard Money Loan?

With Hard Money Loans, it’s very important to shop around. Every Hard Money lender will offer a slightly different type of loan, with slightly different requirements.

There is a loan that is perfect for your credit, your plan, and your property. You just have to find it.


Contact us for a Hard Money Loan

Check us out on YouTube

Hard Money Mike funds loans in Colorado, Oklahoma, and Texas.

Text: "How to Flip for Profit"

How to Flip for Profit in 2022

At the beginning of 2022, flipped homes would sell in a matter of hours, rather than weeks or months. The fix-and-flip experience will be a little different in the remainder of 2022. How can you flip for profit this year?

What Properties Will Flip for Profit?

Your best bet for income in real estate flipping will be sticking to medium price point properties.

Some areas – for example, City center of Denver — are still doing great in higher price ranges. People are still selling $1 – 2 million dollar properties with no issues. But in smaller communities, there are fewer people who can afford $600,000 – $900,000 properties.

With rising interest rates, people who were looking in those higher price ranges now need to look a little lower. Medium property prices are also always competing with rent.

Even though interest rates have gone up 5 – 6%, a $150,000 – $250,000 house will still be in a competitive market with rent. As long as they can afford it, people will always steer toward buying a home rather than renting.

Rent prices aren’t going anywhere but up. We may see changes in the renting sphere as congress discusses hedge funds and other big investors driving rent prices up. But for you now, rising rents could push more people to consider home ownership in the low-to-mid price range.

Flipping Expectations for 2022

When you look at your market, know that 3-bedroom, 2-bath, and garage homes will always be reliable as a seller. People will always be searching for those types of properties for their families.

You’ll find buyers in this range, but be sure to adjust your expectations. In the last market, buyers would make offers within hours or days. The reality of this upcoming market is it might take one or two months to find a buyer. Be patient, take your time, look at your area, and keep an eye out for upcoming foreclosures and other opportunities.

Read the full article here.

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