Hard Money vs Private Money and How It Works Hello again fellowinvestors! With the explosion of the “Asset Based Lending,” there is so much built around the theory of using other people’s money to invest. This process can be applied to Fix and Flips or Buy and Holds. You will want to have your planned exit strategy in place prior to embarking on a specific property, or loan options. My team and I have come across many questions on the process of borrowing in these scenarios and what it
Real Estate Investing
How to Get an EIN Number for Your Business
How To Apply For An EIN You have created your LLC, now what? Now it’s time to apply for an EIN. What is an EIN? EIN stands for Employer Identification Number and is a 9-digit number specifically used to determine identification. It is also used for tax purposes. How To Apply for an EIN? First, you’ll want to visit the IRS website for EINs. It is broken down into three easy steps: Determine Your EligibilityUnderstand The Online ApplicationSubmit Your Application Please
Foreclosures Explained: What You Need to Know
What is a foreclosure, specifically? What is foreclosure, specifically? In simple terms, the foreclosure process allows a lender to recover the amount owed on a defaulted loan by selling or taking ownership of the property. Roughly 1 in 12,000 homes are in some phase of the foreclosure process, (default, auction or bank-owned)” in the United States, so it’s hardly an uncommon occurrence. “Foreclosure occurs when a lender seeks to seize your property as collateral for failure to pay
Quick Guide: Calculating Rental Income for Your Investment Property
How to Calculate Rental Income a Quick Guide Looking for an easy and accurate way to calculate rental income? The Blink Lending team here in Houston has you covered. Read on for the easiest way to calculate your rental income. Most real estate investors report their rental income on Schedule E of their 1040 US Individual Income Tax Return. As a mortgage lender we often have to determine the usable rental income for your properties. You may feel they are very profitable, but once
BRRRR Strategy: Secrets You Didn’t Know
Completing The BRRRR Strategy, What To Expect On The Refinance If you have been following my blog series, you know we’ve already discussed a multitude of various items in term of lending and what it looks like. Most recently we laid out a case study breaking down how the right asset-based loan can work and enhance your ability to buy and renovate your investment property. “Hard Money vs Private Money”walked through Jim’s four-month journey and the importance of finding the correct lending
Hard Money Loan vs Private Money Loan: Understanding the Difference
Hard Money vs. Private Money – And Why Do I Need It? The investor world is full of terms, acronyms, and slangs, and they aren’t always easy to decipher. These terms are thrown around and can be misconstrued. Over time these words get bent and reshaped to mean multiple things – kind of like the game telephone we played as kids. A big example is the blanket term Hard Money Financing. Over the last few years, hard money has become the catchall term when there are any funds that bridge the gap
