Tag Archive for: Fix and flip

Introducing Flip-It, Pro-Fit, a Contractor Partnership Program

Introducing Flip It, Pro-Fit, a Contractor Partnership Program

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Introducing Flip It, Pro-Fit, a Contractor Partnership Program

Today, we’d like to introduce our new contractor partnership program. Because we want you to make more money doing the work you love.

And with our Flip It, Pro-Fit Contractor Partnership Program, you can.

https://youtu.be/sB9TZ-vvk4Y

This special program is designed for any contractor who’d like to stop doing work for flippers, and start doing work for themselves…but who might want help on the business side.

That’s why it’s a partnership. Our company will handle all of the funding and paperwork, while you’ll handle all of the renovations.

Basically, we fund. You flip.

It’s as easy as that!

And, no. Right now, we do NOT charge commitment fees or anything else like that. This is truly a partnership program.

And when you partner with us, you can expect:

  • Less paperwork
  • More Money
  • No payments
  • And help creating a “bank worthy” portfolio.

Best yet, we’ll find the properties for you.

All you need to qualify for the Flip-It, Pro-Fit program is:

  • 3-5 years of experience as a contractor
  • A crew or team
  • Properties that sell for $250K or less AFTER they’re repaired
  • And a no BS attitude!

If you love fix and flips, but you don’t like seeing someone else get all the profits for your hard work, then here’s your chance to take control.

With the Flip-It, Pro-Fit program, you can keep doing the work you love, but make A LOT more money.

Ready to chat? Our team is always here to answer your questions and get your cash flow moving in the right direction.

 

What is a value add property

What is a Value Add Property?

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If you’re a real estate investor, then it’s likely you’ve heard the term value-add property.

But what IS a value-add property?

https://youtu.be/CMPAhNeOddo

Well, first of all, a value-add property means exactly like what it sounds like: a property that has value added to it.

Well, you add value to it by repairing it.

Think about a fix and flip or a fix and hold (aka, a rental property).

What is a Value Add Property

When you come across these pieces of real estate, you’ll quickly discover they’re not in marketable, sellable condition. They need work.

Some need A LOT of work.

So, let’s break things down a bit more.

Step one:

You buy a property that’s in some kind of disrepair…or simply outdated.

Then you spend some money to fix it up. This can be a lot of money because you have to do things like repair the roof, replace the plumbing, demo the kitchen, and other hefty tasks.

Or you only need to spend a little to tidy things up and make it appealing to future buyers or tenants. That includes replacing old carpet, adding fresh paint, and providing other cosmetic work.

Either way, you’re adding VALUE to the property.

Step two:

Once you do that, you can turn around and sell it for a profit or rent it for positive monthly cash flow.

And that’s basically it. It’s a fairly simple term to understand.

What you need to understand even more is how to evaluate a property to ensure you’re able to add value AND make a profit.

Need help with that? No problem. You can check out our other videos on our YouTube channel to learn more. Or you can directly reach out to our team for guidance and tips.

Because we’re always eager to set you on a path that helps you make the kind of money you need, to live the life you want.

Happy investing!

Flip-It, Prof-It Contractor Partnership Program

Weekly Chat: Flip-It, Pro-Fit Contractor Partnership Program

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Weekly Chat: Flip-It, Pro-Fit Contractor Partnership Program

Are you a contractor? Good, because we want you to make more money doing what you love.

That’s why we’ve created the Flip-It, Pro-Fit Contractor Partnership Program.

Join us (online) next week to learn more about this special program that’s ONLY for contractors.

Flip-It, Pro-Fit Contractor Partnership Program

We fund. You flip.

The Flip-It, Prof-It program is easy. We’re looking to partner with contractors who want to stop doing work for flippers and start doing work for themselves. 

We’ll handle all the funding and paperwork, and you’ll handle the renovations.

It’s as simple as that. 

Hit the easy button.

When you partner with us, you don’t need to sweat the “business” side of the deal. Instead, you can do your work and enjoy:

  • Less paperwork
  • More Money
  • No payments
  • Help creating a “bank worthy” portfolio

In a nutshell, you do not need to worry about the business side of the deal. We’ll take care of that while you take care of the house.

Some basic qualifications.

  • 3-5 years experience as a contractor
  • A crew/team
  • Properties that sell for $250K or less AFTER they’re repaired
  • A no BS attitude!

If you can say yes to those, then tune into our free chat to learn more about the Flip-It, Pro-Fit Contractor Partnership Program?

You may register for FREE here.

Again, here’s when and where the chat will take place:

When: Wednesday, September 29th, 6 PM MST

Where: Virtual nationwide.

Register for free at https://my.demio.com/ref/lw8s3Krd8n4vKXqo

Mike and the rest of the Hard Money Mike team looks forward to seeing you on Wednesday! Because we want you to make the kind of money you need to live the life you want.

If you have any questions about the program, our team is here to answer them any time.

Happy investing!

How to Find a Good Contractor

How Your Contractor Can Make or Break Your Deal

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How Your Contractor Can Make or Break Your Deal

Having a good contractor can make or break your deal.

But how can you find a quality contractor with a good reputation to complete your fix and flip, rental, or other value-add property?

https://youtu.be/AhyaOinMvyQ

Get Referrals

One of the easiest ways to find a good contractor is to ask friends and other investors for referrals.

Word of mouth is a powerful thing in this business. If someone had a good experience with a lender, title company, or, well, contractor, then it’s worth investigating.

When you ask friends and other investors about their contractor, make sure to ask them if they were happy with their contractor’s:

  • Work
  • Reliability
  • Communication
  • Overall experience

Interview

Once you collect a list of potential contractors, then it’s time to interview them.

Yes, interview.

Because, again, choosing the right contractor to help you fix up a property can be the difference between making a big or small profit.

Or no profit at all.

So, what kind of questions should you ask during each interview? Well, here are some of the most important ones to consider:

  • How many employees do you have?
  • How long have you been in business?
  • Do you have a referral list with current and past customers? Make sure to get phone numbers so you can verify this list.
  • Are you insured? With this one, remember to ask for a copy of their policy binder page showing their name and coverage. They should have General Liability and Worker’s Comp.
  • Who will be doing the work? Will there be any subcontracting, or will you and your team do all the work?
  • Has your company ever been sued or had a lawsuit against it?
  • Have you ever sued a client or filed a lien against a property?
  • Have you ever declared bankruptcy or had a company under a different name?
  • If the project falls behind schedule, what happens?
  • Has your company ever had a serious accident on the job?
  • Who will be at my house and when? Be sure to ask if background checks have been completed, and if there’s a set schedule.
  • May I have a written contract? You’ll want your attorney to review it before signing. Make sure the contract spells out timeframes, as well as how and when the contractor gets paid.

We suggest making a list of all the questions you’d like to ask ahead of time. That way you won’t forget anything during the conversation.

Red Flags

Once you find your ideal contractor, it’s important to stay alert and watch for red flags.

For example, if your contractor demands 25%-50% upfront, find someone else. Because a good contractor should have enough reserves to cover minor expenses to get the job started, except for materials. As for those, you should order everything and have it delivered to your property.

If your contractor has a problem with this, find a different one. Or tell them to purchase the materials themselves (pre-approved by you, of course). You can always compensate them when the job’s done.

They should also have pre-set dates for payments and money for materials.

Above all else, never assume anything. Get everything in writing. It’s your only resource if you need it later.

At the end of the day, it’s all about having a contractor that will respect you and your property. They should:

  • Be trustworthy and treat you fairly
  • Complete the job on time
  • Meet your budget
  • And provide quality work

This might seem like a lot of work to do before the real work begins, but trust us, it’s worth it! If you take the time to find the right property, the right lender, and the right contractor, then your flip or rental project will be a lot easier.

And the payoff will be much greater.

Ready to chat? Great! Our team is always here to help.

Happy investing!

How to Find and Value Properties

Money Chat: How to Find Cash Flowing Properties

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Money Chat: How to Find Cash Flowing Properties

During our next Money Chat, real estate expert Mike Bonn will discuss how to find cash flowing properties.

Because it’s important to understand how to invest in good, cash flowing properties before putting your hard earned money into real estate deals.

You can join other like-minded investors and ask all of your questions about finding the best deals out there.

How to Find Cash Flowing Properties

Want to join Mike’s Money Chat? Then register for FREE here.

Mike will answer common questions like:

  • How do I find properties in my area? 
  • How do I evaluate a property to make sure it’s a good investment? 
  • What resources can I use to help me out with this process?

By the end of the Money Chat, you should have a much better grasp of how to find and value your real estate investments, including fix and flips and rentals.

When: Thursday, September 23rd, 11 AM MST

Where: Virtual nationwide.

Register for free at https://my.demio.com/ref/lw8s3Krd8n4vKXqo

Can’t make it? No problem. We run free Money Chats every week to make sure you have an opportunity to listen, learn, and ask all of your questions.

Mike and the rest of the Hard Money Mike/Cash Flow Mortgage Company team looks forward to seeing you on Thursday.

If you have any questions about our weekly Money Chats, then our team is here to answer them any time.

Happy investing!

How to Fund a Flip

Money Chat: How to Fund a Flip

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Money Chat: How to Fund a Flip

During our next Money Chat, lending expert Mike Bonn will discuss “How to Fund a Flip.”

If you’ve always wanted to get into the fix and flip game, but don’t know where to start when it comes to buying properties, then this Money Chat is perfect for you!

You can join other like-minded real estate investors and ask all of your questions to a lending expert.

How to Fund a Flip Property

Want to join Mike’s Money Chat? Then register for FREE here.

Mike will answer common questions like:

  • What are my funding options?
  • What is hard money?
  • How do I qualify? What credit score do I need? Income? Experience?

By the end of the Money Chat, you should have a much better grasp of how to get going in real estate investing.

So, mark your calendar!

When: Tuesday, September 21 @ 11 AM MST

Where: Virtual nationwide.

Register for free at my.demio.com/ref/1j9cO1wJ3Co6QkW1

If you can’t make this week’s Money Chat, don’t worry. We’ll run another chat next week!

Mike and the rest of the Hard Money Mike/Cash Flow Mortgage Company team looks forward to seeing you on Tuesday.

If you have any questions about our weekly Money Chats, then our team is here to answer them any time.

Happy investing!

How to Find and Value Properties

Last Chance: How to Find and Value Properties

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Last Chance: How to Find and Value a Properties

Do you know how to find and value properties? If not, here’s your second chance to participate in this week’s Money Chat with Mike Bonn.

Mike will be hosting an encore Money Chat tomorrow, Thursday, September 16th at 11 a.m. MST. 

During tomorrow’s chat, Mike will answer all of your questions on how to find and value a property.

Because it’s important to understand how to invest in good, cash flowing properties before putting your hard earned money into real estate deals.

So don’t miss out! This is your second chance to join other like-minded real estate investors and ask all of your questions to a lending expert.

how to find and value a property

If you’d like to join Mike’s Money Chat tomorrow, then you can register for FREE here.

During the virtual call, Mike will answer common questions like:

  • How do I find properties in my area? 
  • How do I evaluate a property to make sure it’s a good investment? 
  • What resources can I use to help me out with this process?

By the end of the Money Chat, you should have a much better grasp of how to find and value your real estate investments, including fix and flips and rentals.

Can’t make it to tomorrow’s chat? No problem. Let us know and we’ll set up more Money Chats on how to find and value a property. Or you can reach out to our team and schedule a time for a one-on-one call. That way you have an opportunity to ask all of your questions on how to find and value properties.

But, if you’d like to tune in LIVE tomorrow to listen and participate with other real estate investors, then here’s your chance.

When?

Tomorrow at 11 AM MST

Where?

Virtual nationwide.

Register for free at https://my.demio.com/ref/lw8s3Krd8n4vKXqo

Mike and the rest of the Hard Money Mike/Cash Flow Mortgage Company team looks forward to seeing you tomorrow!

If you have any questions about our weekly Money Chats, then our team is here to answer them any time.

Happy investing!

How to find and value properties

Money Chat Encore: How to Find and Value a Property

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Money Chat Encore: How to Find and Value a Property

Do you know how to find and value a property? If not, here’s your second chance to participate in this week’s Money Chat with Mike Bonn.

Mike will be hosting an encore Money Chat tomorrow, Thursday, September 9th at 11 a.m. MST. 

During tomorrow’s chat, Mike will answer all of your questions on how to find and value a property.

Because it’s important to understand how to invest in good, cash flowing properties before putting your hard earned money into real estate deals.

So don’t miss out! This is your second chance to join other like-minded real estate investors and ask all of your questions to a lending expert.

How to find and value a property

If you’d like to join Mike’s Money Chat tomorrow, then you can register for FREE here.

During the virtual call, Mike will answer common questions like:

  • How do I find properties in my area? 
  • How do I evaluate a property to make sure it’s a good investment? 
  • What resources can I use to help me out with this process?

By the end of the Money Chat, you should have a much better grasp of how to find and value your real estate investments, including fix and flips and rentals.

Can’t make it to tomorrow’s chat? No problem. Let us know and we’ll set up more Money Chats on how to find and value a property. Or you can reach out to our team and schedule a time for a one-on-one call. That way you have an opportunity to ask all of your questions on how to find and value properties.

But, if you’d like to tune in LIVE tomorrow to listen and participate with other real estate investors, then here’s your chance.

When?

Tomorrow at 11 AM MST

Where?

Virtual nationwide.

Register for free at https://my.demio.com/ref/lw8s3Krd8n4vKXqo

Mike and the rest of the Hard Money Mike/Cash Flow Mortgage Company team looks forward to seeing you tomorrow!

If you have any questions about our weekly Money Chats, then our team is here to answer them any time.

Happy investing!

How to Find and Value a Property

Next Money Chat: How to Find and Value a Property

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Next Money Chat: How to Find and Value a Property

During our next Money Chat, lending expert Mike Bonn will discuss how to find and value a property.

Because it’s important to understand how to invest in good, cash flowing properties before putting your hard earned money into real estate deals.

You can join other like-minded real estate investors and ask all of your questions to a lending expert.

How to Find and Value a Property

Want to join Mike’s Money Chat? Then register for FREE here.

Mike will answer common questions like:

  • How do I find properties in my area? 
  • How do I evaluate a property to make sure it’s a good investment? 
  • What resources can I use to help me out with this process?

By the end of the Money Chat, you should have a much better grasp of how to find and value your real estate investments, including fix and flips and rentals.

Can’t make it? No problem. We’re running a second Money Chat next week to make sure you have an opportunity to listen, learn, and ask all of your questions. And if you miss next week’s chat, no sweat. We’ll be hosting many more in the future.

So, mark your calendar!

When?

Tuesday, September 7th, 6 PM MST

OR

Thursday, September 9th, 11 AM MST

Where?

Virtual nationwide.

Register for free at https://my.demio.com/ref/lw8s3Krd8n4vKXqo

Mike and the rest of the Hard Money Mike/Cash Flow Mortgage Company team looks forward to seeing you on Tuesday or Thursday. Or both!

If you have any questions about our weekly Money Chats, then our team is here to answer them any time.

Happy investing!

Wisdom Wednesday: What's a Good Investment

Wisdom Wednesday: What’s a Good Investment

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On this Wisdom Wednesday, we want to focus on what a good investment looks like.

Because, the truth is, good investments are pretty simple. It all boils down to cash flow.

Good Investment

As long as you have more cash flowing in than flowing out, your investment is a good investment. ~Robert Kiyosaki

Yep, it’s really as simple as that. This concept might seem pretty obvious to most investors. Unfortunately, we’ve seen too many clients fail to evaluate their deals in a way to ensure they generate positive cash flow.

What are some of the most common mistakes we see? Here are just a few:

Fail to shop around for the right lender.

Maybe an investor gets comfortable using the same lender over and over again, or they only call one lender and decide to go with their product. Whatever the case, when real estate investors fail to shop around for the best loan with the best rates and terms, then their cash flow can take a major (and unexpected) hit.

Use their heart more than their head.

Too many investors fall in love with a property and refuse to accept it’s not a good investment once they crunch the numbers. Remember, this is a business. You’re not buying a house for you or your family. You’re buying an asset that’s intended to make you money. So try to use logic rather instead of emotion.

Calculate bad numbers.

Real estate investing comes down to numbers. Pure and simple. But when investors use the wrong numbers, then they use the wrong math. And the wrong math means big consequences for their cash flow. Some common missteps with math include inaccurate comps, underestimated renovation budgets, and hidden lender junk fees. (If a lender promises amazing rates and terms, then it’s probably too good to be true. Ask them about additional fees after closing. For example, will they charge you to withdraw money from your escrow account?)

Those are just a few of the common mistakes new and seasoned real estate investors make. And those mistakes can make a dent in their cash flow. So, their good investment is suddenly not-so-good.

Ready to talk about your next deal to ensure it’s a good investment? Great, our team is always here to chat.

Happy investing!