You’ll want to consider these things when choosing an investment property because hard money lenders will require an appraisal to fund your loan.
Hard money lenders have to protect their investments and one of the ways they do that is by performing a property appraisal to determine the value of the home before renovation, compared to after.
There are some steps you can take when choosing your fix and flip property that will help the home appraise and get your proposal accepted by a Arizona hard money lender so you can get that money in your hands to begin the project!
If your real estate investment opportunity is a fix and flip, it’s important to have a property that’s in a desirable location to ensure you attract buyers easily. Check what type of businesses are in the vicinity of the property and distance from busy streets. Those both will have an effect on the value of the home and can determine your loan amount from the hard money lender.
This is one of the most important things to consider about your property. If you’re looking for a fix and flip you want to see it from that buyer’s point of view. Could you envision someone or a family living in that home? If you’re looking at a commercial property, is it set up to have cubicles installed if the renter so chooses?
Every city has trends when it comes to desirable neighborhoods. You’ll want to be on the nose with where the population is moving and how quickly those homes are getting taken off the market. If you’re looking at commercial investment property you want to know where businesses are thriving and sticking around through the ups and downs of the economy.
If you have a real estate investment opportunity and want to work with a Arizona hard money lender to make your dream come true, contact Level 4 Funding today and we can hear your proposal, appraise the property, and fund the loan quickly to get you on the way to earning real estate money!