Get a Washington Hard Money Loan for Upgrades
Doing a walk-through of a fix and flip property prior to purchase can be a “make or break” experience.
If you know what to look for, you’ll know if it’s a great opportunity or if you need to walk away.
Recognize red flags and get the best return on your real estate investment dollar. Follow these tips for a successful walk through and avoid a possible investment “misstep!” (Check out this helpful property walk through video.)
Walk-Through Tips for a Successful Fix and Flip
Photos: Take pictures. Lots of them. Take detailed photos throughout the property, up close and wide frame. After the walk-through, label, save and date all images.
Notes: Take notes, and lots of them. The more you document what you see and your concerns and issues about the property, the more you’ll have to negotiate with.
Details: Take your time and be thorough. Assume you’ll have just one opportunity to view the property. Ideally, walk through without the seller present to give you the freedom to explore and document.
System: Do your walk-through the same way every time. Exterior to interior, top to bottom, front to back. Having a set sequence will help make sure you don’t miss anything.
Spreadsheet: After the walk-through, create a spreadsheet by room to easily sort and analysis anticipated upgrades and repairs throughout the property.
Costs: Get professional advice regarding construction, repair and upgrade costs. Use your photos and notes to obtain answers to concerns and questions.
Analyze the property using the information you’ve gathered. Decide whether the property is a “win or loose” investment opportunity based on asking price.
Get a Real Estate Equity Loan for Your Washington Fix and Flip
If your walk-through is a success and you decide to negotiate an offer, financing is the next step. If traditional lenders say no and you need funding talk to us. Our private money lending team has helped finance Washington State real estate investors for over 30 years. Credit is not an issue. We offer easy qualifying hard money loans and our application process is quick and simple. Call Gregory M. Russell at 1-888-477-0444 to learn more.