Closing Day Inc

🛠️ Fix and Flip Do’s and Don’ts🚫
Thinking about diving into the world of fix and flip properties? Here are some essential do’s and don’ts to keep in mind for a successful project!💡
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Do:
• Research the market and property values 📊
• Create a detailed budget and stick to it 💰
• Hire experienced professionals for the job 🛠️
• Focus on curb appeal to attract buyers 🏡
• Prioritize kitchen and bathroom renovations 🚿
• Stick to your project timeline ⏳
• Use effective marketing strategies to sell the property 📣
• Sell at the right time to maximize profit 💸
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Don’t:
• Over-improve the property with unnecessary features ❌
• Cut corners on materials or workmanship 🚫
• Underestimate renovation costs 📉
• Overlook legal requirements and permits 📝
• Ignore inspection reports 🕵️
• Rush the renovation process ⏩
• Neglect marketing efforts 📈
• Get emotionally attached to the property 🏠
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Which tip resonates with you the most? Share your thoughts in the comments below! 👇

Looking for a project but not sure how to get it funded? 🤔

Most lenders want you to have some skin in the game and to make sure you have enough saved to make monthly interest payments. Experience is also a factor as the more projects you have completed in the past 2 years the more competitive they will be with their rates.

What if you don’t have any prior experience?? 🫠
Don’t worry! If you have cash saved, you can still get a project going! Think about finding a trusted partner with the experience needed for your first one! It’s kind of like when you were fresh out of school and didn’t get the job you wanted because they wanted you to have more experience… how the heck can you get experience if they won’t hire you 😅 think of your trusted partner as a friend that works at the company and gives you a solid recommendation. 👍

Hard money lending allows you to purchase a property in CASH and ability to close in 2-3 weeks. They can also help fund the purchase as well as rehab costs depending on the deal! 🏡

If you have any questions regarding this process, reach out to our preferred lender, at Renovo Financial as they have been fantastic to work with on our last few projects!
We are not financial advisors and this information is strictly for informational purposes! Please consult with a lender of your choice and run your numbers accordingly!