hard money: Q&A with WCP Lending Account Manager
- 04/21/16 05:11 AM
On March 30, Jared Fausnaught, lending account manager with WCP, was asked to speak on a panel to local Keller Williams real estate agents. After the panel, the more than 60 attendees were eager to get their hard money questions answered. Here are a few of the top questions, and our responses. Please reach out to us if you would like to learn more!
Q: When someone comes to you with a deal, what are you looking for? A: The bottom line is that the deal makes sense. Specifically, we're looking for a property and deal that has enough margin so the … (0 comments)
hard money: Valuing Your Local Investment Property
- 04/15/16 03:48 AM
Determining property values can be difficult if you aren't seasoned in the industry or the local market. Add in the fact that properties in the Washington, D.C. metro area come with their own set of unique challenges, and where do you start? When considering property value, several different factors come into play. LocationThe location of your property is one of the most important factors to consider. Each county in and around the district has its own set of unique challenges including price points. Often times, what you'll find as an investor is that there are certain exit prices that are established … (1 comments)
Every real estate investor has to deal with finding the right balance between time and money during their deal. Every deal is different, and, as an investor, you will always have to make decisions that will ultimately alter the timeline or budget of the project. Keeping both your time frame and budget within your goals can certainly be a challenge. But also remember that while it may seem like you are saving time and money in the present time, there could be hidden costs down the line. Here are a couple things to think about when it comes to considering whether or … (1 comments)
hard money: Strategic Relationships: Your Key to Success
- 03/31/16 02:19 AM
When it comes to the business of real estate investing, there are a few key areas that you need to focus on in order to become truly successful. At Washington Capital Partners, we have seen hundreds of deals over the past few years, and we have seen all different kinds of investors. Through every deal we have seen, we can tell you that the single most important factor in your deal and you career as a real estate investor is the ability to create and maintain quality relationships within the industry. Establishing strong bonds with local real estate agents, contractors, wholesalers, lenders, … (0 comments)
hard money: Dealing with Midstream Changes
- 03/24/16 01:10 AM
Once you begin your investment project and you have your water-tight plan in place, that's it, right? Nothing is going to change.Well, we certainly hope that's the case, but every now and then issues can pop up. This can be nerve-wracking, but if you know what to expect and how to handle it, it shouldn't set your deal back too much. The number one piece of advice we can give you is to always have enough operating capital, generally around 10 to 20 percent of your budget, that is there for you to use in case something unexpected does come up. … (0 comments)
hard money: Planning for Success
- 03/18/16 04:40 AM
When you decide to invest in a property, it's extremely important that you have a solid, foolproof plan in mind before you move forward. Private lenders will need to review your scope of work, proposed draw schedule, among other important factors, such as the estimated after repair value (ARV). Asset based lenders focus on the numbers of a deal when determining the loan amount they can fund. One of those numbers is the ARV, which is directly tied to two very important numbers for a lender - the Loan to Value (LTV) and Loan to Cost (LTC). If the renovation plans and costs … (0 comments)
hard money: Breaking Down the National Statistics the WCP Way
- 03/10/16 02:11 AM
RealtyTrac recently released an infographic on the 5 habits of highly profitable home flippers. While there are several different factors to consider when flipping a property, these 5 habits are an excellent place to start. We have taken these national standards and compared them to those in our local Washington, D.C. metro area market. Be aware that while national averages seem attractive, real estate investing is extremely area-focused and the results of a national poll may not apply to your area. Proactively Find Deals If you are proactive about finding good deals, you can substantially increase your profit margin. This includes keeping an … (0 comments)
hard money: Sprucing Up for the Spring Market
- 03/02/16 03:43 AM
The 2016 spring market is here, which means buyers are beginning to seriously search for their new home. First impressions can often make or break a buyer's decision on a home, and can influence whether or not buyers will even come to see your property. You have spent thousands of dollars bringing the property back from functional obsolescence or giving the property a much needed face lift, so don't skimp on the curb appeal. It surprises us that so often, investors will go to great lengths in fixing up a property, but can't find the extra dollars to clean up the exterior. … (1 comments)
hard money: Purchase Your Investment Property Today
- 01/18/16 11:34 PM
If you've been considering completing a real estate investment project, now is the time to purchase your property. The spring real estate market is right around the corner, and you have the opportunity to take advantage of the start of this year's spring rush. Putting your property on the market at the very beginning of the selling season will increase your chances of getting a good offer before the market goes through its cycle again.
Motivated Sellers Real estate is a human condition, and sometimes people just can't avoid selling their home. Maybe they have to relocate for a new job or they … (1 comments)
hard money: Why Should I Use a Private Loan for My Investment Property?
- 01/04/16 03:09 AM
Real estate investors tend to have a few different options when it comes to financing a project, so why is a hard money loan the best option? Here is a snapshot of the benefits you'll receive when you work with a hard money lender over a traditional bank loan. Fast closings Since private lenders give asset-based loans, we have the ability to close your loan within as little as 24 hours. Traditional banks will never be able to give you that kind of turnaround because they depend on your credit history, income, taxes and debt. Completing this paperwork can take weeks, if … (0 comments)
hard money: Know the Neighborhood Before You Invest
- 12/16/15 03:35 AM
There are several factors to consider before deciding to invest in a property, but digging into the area’s demographic data is one of the most important. What does the neighborhood look like? What is the average size of a house? What are potential buyers in that area looking for? You don't want to build a 3-bedroom, 2-bathroom house in a neighborhood of mainly 5-bedroom, 3.5-bathroom homes. If you do, your finished product will have much less value than it potentially could have had. Here are the top three things you should know before you purchase an investment property. 1. Who is your buyer? … (0 comments)
hard money: Debunking the Biggest Myths about Hard Money
- 12/09/15 04:04 AM
Hard money loans are a great tool for real estate investors, but the truth about private lending is often misconstrued. There are a lot of people out there who hear the terms “hard money loan” or “private lending” and immediately give it a negative connotation. The way they see it, you’re spending a lot of money for a loan that is high risk and provides little reward once it is complete. But this couldn’t be further from the truth. Just like most other things in life, it is important to learn all the facts before you come to any conclusions. Working with a private … (0 comments)
hard money: Top 5 Benefits of Dealing with a Local Private Lender
- 11/18/15 05:25 AM
When it comes to searching for a hard money loan, you have two options: 1) you could go with a national lender with headquarters located in various areas across the nation, or 2) you could opt for a local lender based in your area. Do you know which option you would choose? We can help you decide. When dealing with a local lender, there are several benefits you’ll receive that are not possible with a national lender. From faster closings to connecting you with local companies/vendors, working with a locally-based lender can help you expedite your rehab. Read on to learn more. … (1 comments)
hard money: DC is the place to be!
- 03/28/14 08:42 AM
Fascinating presentation from Deputy Mayor Victor Hoskins at the Marcus and Millichap Multi Family Forum. DC Multifamily Forum Great initiatives going on in the city.
On March 30, Jared Fausnaught, lending account manager with WCP, was asked to speak on a panel to local Keller Williams real estate agents. After the panel, the more than 60 attendees were eager to get their hard money questions answered. Here are a few of the top questions, and our responses. Please reach out to us if you would like to learn more!
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