Hard money loans Texas are a special type of asset based loan that can be used to purchase investment properties. Knowing how to best use your funds will help you get the most bang for your buck!
If you are looking into hard money loans Texas, you already know that they are a great way to finance an investment property. Texas hard money loans are asset based loans that are given to real estate investors and in many cases, used to rehab a property and sell it for a profit. If you have an eye for design, don’t mind a little hard work, and like making money, a fix and flip could be the right real estate investment for you.
However, like any investment, a fix and flip can have its risks. When you are using your funds from hard money loans Texas, you want to make sure that you are getting the most bang for your buck, honey for your money, return on your investment, the list if idioms goes on, but you get the picture. In order to do so, it is important that you use your capital wisely and make smart choices on what you fix up in the property. Here is a list of the top 4 home renovations that will help you sell your fix and flip for top dollar:
1. Landscaping: A barren backyard or lack of a sprinkler system will make your home less appealing.You never want a potential buyer to see work they have to do. Do it for them, but don’t over do it. Basic landscaping won’t cost much and will give you about a 250% return.
2. Home Staging: You want the home to show like a home a buyer would want to live in, not a vacant property. For this reason many real estate agents recommend that you rent furniture and accessories to stage the investment property. This will help it sell quickly. Costs for home staging vary but you can usually plan on about a 300% return on whatever you end up investing. Home staging can be a great use of your hard money loans Texas funds.
3. Good indoor lighting can make your home shine. Buyers won’t even notice the gorgeous granite counter tops if they can’t see them so make sure you have plenty of built in lighting. This improvement costs around $400 and can boast over a 300% return on that investment so it is definitely worth it.
4. Kitchen: using your Texas hard money loan to redo an old, dated, or non-existent kitchen isn’t just smart, it is essential. It is often said that the kitchen is the heart of the home, especially for Texas mamas. Make sure it is nice but don’t overspend. Depending on your finishes you can expect to earn anywhere from 60 to 120 percent return on your kitchen investment.
Use your hard money loans Texas assets to make improvements to the property that will earn you the most money. Getting the most bang for you buck will put more cash in your pocket!
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