Timing is everything when it comes to investing in multiple real estate properties at one time, especially when it’s a fix and flip property or where rehab and repair work is needed.
Whether it’s how fast you can get the financing to secure the property or the rehab timeframe, timing can make or break a deal.
Time is Money in Real Estate Investing
Mike Villacis, owner of Bang It Services general contracting in Houston, flips about eight homes every four months and agrees timing is the key. Whether you or a general contractor is handling the scheduling, realize that time is money, Mike says.
Check out Mike’s other tips to investing in multiple properties at one time.
5 More Tips to Making Multiple Property Investments at One Time
- Hire a contractor with an investment mentality. Work with a contractor who understands property investing. He or she will understand the importance of tight timelines and also the importance of key value areas, such as kitchen and bathroom upgrades.
- Use hard money lending to give you access to multiple investment opportunities at one time. Hard money leverages your cash so you can be making multiple investments at the same time. It’s also easy, convenient and open to non-owner occupied properties in disrepair.
- Know how to schedule. Know what work permits you need, from who and how long it will take to get the permits. What work can be done while you wait on permits or materials? What materials can you have on hand? Have a sound understanding of timeframes or hire someone who does so the project moves forward immediately after purchase.
- Be prepared for the little things. Take into consideration the costs of taxes, insurance, any fees and other small items that can add up quickly. Also, plan for the time it takes to handle the necessary paperwork involved.
- Don’t Be Afraid to Negotiate. If a project seems risky but you are intrigued, negotiate for an even better price. A risky property may scare away other potential buyers, making your offer more appealing to a motivated seller.
At Catalyst Funding, our business model is built on taking a holistic approach with our clients and guiding them through the entire process. As a hard money lender, we invest in you. Whether you need guidance in rehab strategies, contractors, property management or wholesale opportunities, we are here to help you succeed. Contact Catalyst Funding today.