4 Top Financing Options for Flipping Houses in Fernley, NV

4 Top Financing Options for Flipping Houses in Fernley, NV

By Larry Crickon

Flipping houses can cost money. Here are 4 top financing options for flipping houses to help you get started. Use one, some, or all of these financing options to acquire all the investment properties you want to flip!

If you’re thinking about investing in real estate, you have several options… you can rent, rent-to-own, wholesale, flip, and many other options as well! If you’re thinking about flipping, you’re probably looking to acquire an investment property and then fix it up to sell at a higher price. If so, here are 4 top financing options for flipping houses…

Flipping Finance Option #1

You can get a traditional bank loan from a mortgage loan lender like a bank or mortgage company. These are usually similar to the traditional mortgage loan that you might get for your residence: you pay a down payment and “use your credit score” to borrow the rest. Unlike your residential mortgage, you would sell the house to a buyer and then pay off the mortgage quickly.

The biggest drawback to this method is that you can usually only get a few mortgages in your name at once before the banks won’t lend you anymore. That will limit how many properties you can flip at once.

Flipping Finance Option #2

Another way to finance your flips is to partner with other investors so that each of you put in a portion of the total cost. For example, you might acquire a $100,000 property by finding 3 other investors and each of you put in $25,000.

Of course you’ll also need to figure out what percentage each person will invest in the renovations, and what percentage each partner earns at the end. In the example above, the simplest option would be for each partner to invest 25% and then get 25% back but some investors might prefer to be just “silent partners” while other investors might want to roll up their sleeves and do the renovation work!

If you’d like to flip some properties and perhaps want to partner with other investors, why not get in touch with us at (775) 721-2274 and we might be able to give you some suggestions or even make some introductions.

Flipping Finance Option #3

In some situations, you may be able to invest in real estate with your IRA or 401(k). This is a very smart strategy (although you should be aware that there are some restrictions and guidelines — so make sure you talk to an expert who can help you).

There are some significant tax advantages to using this financing option, so it’s one that you may want to consider if you have money available in your IRA.

Flipping Finance Option #4

Seller financing is a very powerful way to finance your investments. Using this method, you by pass the bank and the seller actually becomes your bank! Instead of getting a loan from a mortgage company, you simply get the house and pay the seller a regular “mortgage” payment each month until you’ve paid the entire amount off. Some sellers like this because they want to sell fast and like the cash flow.

Summary

If you’re an investor who wants to flip houses, you probably need to finance the purchase of them. These are 4 top financing options for flipping houses that you can use to acquire as many properties as you want!

You can talk to us at Oracle Property Solutions about how to acquire more properties to flip, or to help you figure out how to invest with your IRA or 401(k). Just click here to enter your information or give us a call at (775) 721-2274.

Real Estate Investing Financing Sources In Reno – The 4 You Should Be Using Right Now

By Larry Crickon

Who else needs financing for their real estate investing deals? If you invest, you’re probably looking for real estate investing financing sources in Reno… well, look no further because here are the only 4 you’ll ever need to do as many deals as you want to do.
As a real estate investor, you know that acquiring deals takes capital. And unfortunately, some investors reach the end of their capital and are forced to stop investing long before they reach their real estate goals. The good news is, you don’t have to fall into the same trap. When you tap into these 4 sources, you’ll have access to all the money you need to do as many deals as you want!

Real Estate Investing Financing Sources In Reno #1 – Financial Institutions

This is the way that most people know about, and it’s still a tried-and-true way to do more deals. When you use institutional financings such as banks and mortgage companies, you’re using the principles of leverage and other people’s money to do your deal. As long as you have the down payment, and some available “room” in your credit, you can acquire deals.

Real Estate Investing Financing Sources In Reno #2 – Hard Money And Private Money

These are similar to banks in that they’ll lend you money in exchange for interest payments but the difference is: they may not require a credit score or a down payment; in many cases, they’ll probably just secure the loan against the value of the property itself. So you can acquire multiple deals with the power of hard money and private money.

Real Estate Investing Financing Sources In Reno #3 – Cash Buyers

One way to invest in real estate is to work with cash buyers. There are a few ways to make this work – from wholesaling to partnering. Here’s one example: you might partner with someone who actually buys the property and, in exchange for finding the deal and managing it, you might get a share of the cash flow from the deal. Get creative!

Real Estate Investing Financing Sources In Reno #4 – Seller Financing

One often-overlooked way to invest is to work with sellers and instead of paying them a lump sum to buy their house, you pay them over time… just like a bank. More sellers are into this than you might realize! Just tell them about it and help them see the benefits of generating cash flow.
Now you have 4 very powerful and effective real estate investing financing sources in Reno. When you start using these, you’ll never run out of capital again to do as many deals as you want to do.

Want to take your investing to the next level? We’d love to work with you to acquire more real estate, connect with our favorite financing sources, and get you building your investing portfolio. Click here and enter your info or pick up the phone and call us at (775) 721-2274.

4 Top Financing Options for Flipping Houses

By Larry Crickon

Flipping houses can cost money. Here are 4 top financing options for flipping houses to help you get started. Use one, some, or all of these financing options to acquire all the investment properties you want to flip!
If you’re thinking about investing in real estate, you have several options… you can rent, rent-to-own, wholesale, flip, and many other options as well! If you’re thinking about flipping, you’re probably looking to acquire an investment property and then fix it up to sell at a higher price. If so, here are 4 top financing options for flipping houses…

Flipping Finance Option #1

You can get a traditional bank loan from a mortgage loan lender like a bank or mortgage company. These are usually similar to the traditional mortgage loan that you might get for your residence: you pay a down payment and “use your credit score” to borrow the rest. Unlike your residential mortgage, you would sell the house to a buyer and then pay off the mortgage quickly.
The biggest drawback to this method is that you can usually only get a few mortgages in your name at once before the banks won’t lend you anymore. That will limit how many properties you can flip at once.

Flipping Finance Option #2

Another way to finance your flips is to partner with other investors so that each of you put in a portion of the total cost. For example, you might acquire a $100,000 property by finding 3 other investors and each of you put in $25,000.
Of course you’ll also need to figure out what percentage each person will invest in the renovations, and what percentage each partner earns at the end. In the example above, the simplest option would be for each partner to invest 25% and then get 25% back but some investors might prefer to be just “silent partners” while other investors might want to roll up their sleeves and do the renovation work!
If you’d like to flip some properties and perhaps want to partner with other investors, why not get in touch with us at (775) 721-2274 and we might be able to give you some suggestions or even make some introductions.

Flipping Finance Option #3

In some situations, you may be able to invest in real estate with your IRA or 401(k). This is a very smart strategy (although you should be aware that there are some restrictions and guidelines — so make sure you talk to an expert who can help you).
There are some significant tax advantages to using this financing option, so it’s one that you may want to consider if you have money available in your IRA.

Flipping Finance Option #4

Seller financing is a very powerful way to finance your investments. Using this method, you by pass the bank and the seller actually becomes your bank! Instead of getting a loan from a mortgage company, you simply get the house and pay the seller a regular “mortgage” payment each month until you’ve paid the entire amount off. Some sellers like this because they want to sell fast and like the cash flow.

Summary

If you’re an investor who wants to flip houses, you probably need to finance the purchase of them. These are 4 top financing options for flipping houses that you can use to acquire as many properties as you want!

You can talk to us at Oracle Property Solutions about how to acquire more properties to flip, or to help you figure out how to invest with your IRA or 401(k). Just click here to enter your information or give us a call at (775) 721-2274.

4 Top Financing Options for Flipping Houses in Minden

By Larry Crickon

Flipping houses can cost money. Here are 4 top financing options for flipping houses to help you get started. Use one, some, or all of these financing options to acquire all the investment properties you want to flip!
If you’re thinking about investing in real estate, you have several options… you can rent, rent-to-own, wholesale, flip, and many other options as well! If you’re thinking about flipping, you’re probably looking to acquire an investment property and then fix it up to sell at a higher price. If so, here are 4 top financing options for flipping houses…

Flipping Finance Option #1

You can get a traditional bank loan from a mortgage loan lender like a bank or mortgage company. These are usually similar to the traditional mortgage loan that you might get for your residence: you pay a down payment and “use your credit score” to borrow the rest. Unlike your residential mortgage, you would sell the house to a buyer and then pay off the mortgage quickly.
The biggest drawback to this method is that you can usually only get a few mortgages in your name at once before the banks won’t lend you anymore. That will limit how many properties you can flip at once.

Flipping Finance Option #2

Another way to finance your flips is to partner with other investors so that each of you put in a portion of the total cost. For example, you might acquire a $100,000 property by finding 3 other investors and each of you put in $25,000.
Of course you’ll also need to figure out what percentage each person will invest in the renovations, and what percentage each partner earns at the end. In the example above, the simplest option would be for each partner to invest 25% and then get 25% back but some investors might prefer to be just “silent partners” while other investors might want to roll up their sleeves and do the renovation work!
If you’d like to flip some properties and perhaps want to partner with other investors, why not get in touch with us at (775) 721-2274 and we might be able to give you some suggestions or even make some introductions.

Flipping Finance Option #3

In some situations, you may be able to invest in real estate with your IRA or 401(k). This is a very smart strategy (although you should be aware that there are some restrictions and guidelines — so make sure you talk to an expert who can help you).
There are some significant tax advantages to using this financing option, so it’s one that you may want to consider if you have money available in your IRA.

Flipping Finance Option #4

Seller financing is a very powerful way to finance your investments. Using this method, you by pass the bank and the seller actually becomes your bank! Instead of getting a loan from a mortgage company, you simply get the house and pay the seller a regular “mortgage” payment each month until you’ve paid the entire amount off. Some sellers like this because they want to sell fast and like the cash flow.

Summary

If you’re an investor who wants to flip houses, you probably need to finance the purchase of them. These are 4 top financing options for flipping houses that you can use to acquire as many properties as you want!

You can talk to us at Oracle Property Solutions about how to acquire more properties to flip, or to help you figure out how to invest with your IRA or 401(k). Just click here to enter your information or give us a call at (775) 721-2274.

Buying Investment Property in Reno With A Partner

Buying Investment Property With A Partner – Oracle Property Solutions (775) 721-2274

By Larry Crickon

Are you looking to acquire real estate investments and maybe considering bringing another investor into the agreement? Then make sure you read this blog post first! Buying investment property with a partner can be a great way to invest, if you follow these 3 strategies…They say “two heads are better than one” and that’s true in many areas, including buying investment property with a partner in Reno. But remember: a partner brings benefits to the table but also adds a layer of complexity to the situation. The best way to make sure you have an enjoyable and mutually profitable investment is to discuss and agree on the following 3 strategies…

Strategy #1. Agree On What Each Partner Brings To The Table

When people think about partnering, they often first think of the money and how much capital each partner brings. However, depending on the investment, each partner might bring different things including capital, sweat equity, knowledge and experience, an existing business and/or existing relationships, and a good credit score… just to name a few. There are many ways that both partners can contribute in an investment deal in Reno.

Strategy #2. Agree On Each Partner’s Ongoing Responsibilities

Once the deal is acquired, they might yet be more work to do. If you’re managing the property yourself then you’ll need to figure out who does what; if you’re hiring a property manager then you’ll still need to decide who speaks to the property manager if you need to. You’ll need to decide who deals with the tenants and who deals with the NV taxes and paperwork.

Strategy #3. Agree On Each Partner’s Expected Return And Exit

As the property starts to deliver a return, you will need to figure out what each partner gets. Do you split the cash flow? By what percentage? Will you split the value of the property if the property is sold in the Reno market? By what percentage? It doesn’t have to be 50/50 if one partner brings more to the table than another. You also need to decide on your exit strategy – for example, under what conditions will you choose to the sell the house? What happens if one partner wants to leave the agreement?

Summary

Buying investment property with a partner in Reno or anywhere in NV might seem like it’s fraught with peril but it’s really not – as long as you figure out ahead of time what the agreement will look like between the two of you. You need to sit with your partners and determine what you’re each bringing to the table, what your ongoing responsibilities are, and what you each expect to get out of the deal. Knowing this ahead of time will help erase many difficulties and misunderstandings, and ensure everyone feels fairly treated.

Ready to buy right now in Reno? Great! We’re here to help.

If you’re buying investment property in Reno with a partner, and if you and your partner are ready to start looking at property, call our office at (775) 721-2274

or click here and enter your information on the form to see what’s available.

How To Formulate An Offer For A House When Buying Cash In Reno – 3 Strategies To Formulate Offers

By Larry Crickon

Investing in real estate with cash is a smart way to buy but it’s not easy to know how to make an offer. If you’re wondering how to formulate an offer for a house when buying cash in Reno keep reading to learn more and to see how we do it…

You’ve Got A Property In Mind… Now What?

If you are looking for a real estate deal to acquire for cash and now you’re wondering how to formulate the offer, you’ll love these 3 strategies that many investors use daily to acquire deals in Reno. Be aware that they may take some practice… and they won’t work for every seller you meet so test them out a few times to perfect your ability to use them. Once you perfect them, you can use this as a system over and over to quickly and easily make offers.

#1. Market Price Less A Percentage

The first way to formulate an offer for a house when buying with cash in Reno is to find out what the market price is for the property and then subtract a percentage. You can get the market price by “pulling comps” (finding out what similar properties have sold for recently in the area). You can sometimes get this information yourself but if you partner with a real estate agent they can do it for you. Comps will tell you how much other similar properties have sold for recently and then you can subtract a percentage to formulate your offer.
For example, you can offer market price less 20%. So a $100,000 comp would mean that you’d offer $80,000 for the property.

#2. Profit Plus

The second way to formulate an offer for a house when paying cash in Reno is to work the other way (and to factor in what you can sell the property for). Figure out how much you want to make and then add your costs. That way, you build in profit into the deal. However, this way can be challenging if you don’t know how to accurately estimate your costs, so make sure you build a good relationship with a contractor who can help you.
For example, if you want to make $15,000 on the property and you know that the property will cost $25,000 to repair then you might offer $30,000 to the seller but plan to sell it for $45,000. Using this strategy helps you think ahead to consider what you can get for the property and whether you’ll be able to make a profit.

#3. Seller Financing

No discussion about how to formulate an offer for a house when buying cash in Reno would be complete without talking about seller financing. The first two strategies have highlighted a single sum that you would pay the seller but when you factor in seller financing into the mix, it changes everything: with seller financing, you might pay some cash and then have the seller carry the note for the remainder. This can adjust your profit point and how much you can pay for each deal.
Alternatively, you can bypass all the work and effort of formulating offers and making deals with sellers and instead to buy a property from us. We sell attractively-priced investments and have done all the hard work for you!

To see our inventory of available real estate investments, click here and enter your info or pick up the phone and call (775) 721-2274.

Why Owner Financing Makes Sense in Reno

By Larry Crickon

If you’re thinking about buying a house and you’re exploring your financing options right now, there’s a good chance you’re deciding whether you should go through bank financing or owner financing. There’s already a lot written about bank financing, so this blog post is meant to give you the other side of the coin, to talk about why owner financing makes sense in Reno and the surrounding area…
You’re probably familiar with bank financing – that’s when a bank (or other lender) gives you a mortgage loan so you can buy a house. The bank pays the seller the full amount that you buy the house for, and then you pay the bank back over a period of several years until you own the house free and clear.
But it’s not the only way to buy a house, there’s also seller financing (also called “owner financing”). That’s when the sellers agrees to not to take the full purchase price for the house right away but instead takes the money over a period of years. In effect, they are acting like a bank, accepting partial payment over time until you’ve paid off what you owe.
So you might be wondering, “Why owner financing makes sense in Reno?”
Good question!
Here’s our answer…
There are 3 main reasons why owner financing makes sense in Reno:

3 Reasons Why Owner Financing Makes Sense In Reno

First, it can allow buyers to get into a home faster. Owner financing can sometimes be useful if a buyer does not have the credit score available to get a mortgage loan, or if they cannot afford mortgage payments that a bank might require. With seller financing, the owner may not require clean credit or high payments, allowing buyers to get into a home faster when they may not be able to do so with bank financing.
Second, it provides flexibility to both the buyer and the seller. A bank uses fairly traditional terms: You’ll pay so much money as a down payment, then the rest paid back over time – either as a fixed rate or variable rate mortgage. But a seller and a buyer may find different terms that they agree to that aren’t as rigid. In fact, some agreements can become very creative and flexible for both parties!
Third, it can be a win the seller, too. A seller wants to sell their home, so offering owner financing gives them access to more buyers who might not typically be able to buy. By offering seller financing, they increase the number of potential buyers who would even look at the house. And not all sellers necessarily require all the cash up-front (which why would get through bank financing). Instead, they may prefer the cash flow that owner financing gives them.

Summary

Owner financing is a great tool for both sellers and buyers; if you’re thinking about buying a house in Reno, owner financing can give you the means to buy your next house.

If you want to learn more about owner financing and see houses that we have available to buy, click here and fill out the form, or call our office at (775) 721-2274.