4 Things You Need to Know Before You Start Your Next Renovation

Renovation is essential to the flipping process, but – like everything – there will be obstacles along the way. Keep these tips in mind before you begin your renovation to avoid being blindsided by a costly mistake.
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Sounds like a no-brainer, right? But you would be surprised with how many people have an idea rather than a plan. Write down your goals, create a checklist, and plan accordingly. This will save you both TIME AND MONEY!
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Focus on your comps! 

There is no better way to plan out the end product than to analyze comparable properties. The best information will come from the sold comps, but you can still get information from inactive and pending properties.

Assessing comparable properties will help you to determine your exit price and trim accordingly. If similar homes have granite countertops and a nice backsplash, you will want to do the same, but don’t go out of your way to dress up a property if comparable properties are not trimmed in the same fashion.
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Listen, we all love saving money by doing things ourselves but some projects are just not meant to be DIY.

If you have never successfully completed a specific renovation, then you might want to leave it to the professionals because one mistake can end up costing you more than you were planning to spend – in both time and dollars.
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Creating a budget sounds pretty simple, but sticking to that budget and including contingency funds are going to help you to maximize profit and avoid unexpected costs.

Are you purchasing an investment property to fix and flip? Or are you seeking funds to buy and hold a cashflow investment? Perhaps you need to refinance on a property you already own?

We can help you get the funding you need to fix and flip, buy and hold or simply do a cash-out refinance. Apply today!