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Benefits of House Flipping as a Profession

By | El Paso, hard money loans | No Comments

House flipping, as a profession, can be pretty rewarding and demanding. Many people in the industry simply love real estate, or were tired of living in a 9 to 5 corporate environment. It has become more popular than ever before, with shows and social media accounts chronicling the lives of house flippers reaching millions of people a day. However, some people still have too little information on the industry and remain skeptical. If you are on the fence, check out just some of the benefits of house flipping below.

  1. Take Control of Your Time – When you flip houses for a living, you are your own boss. You don’t have to have lunch right at 12 or have that report done by Monday; you decide how much you want to do, when you want to do it, and how. 
  2. Financial Potential – As you may already know, there is a lot of money to be made in real estate. After all, for most people, the majority of their net worth is tied into their home. This can be daunting for some people since they have never had to deal with such large amounts of money before. But for motivated individuals, the potential for money-making in the house flipping business is as big as their desire and drive.
  3. Networking – Flipping houses requires talking to people, and we mean a lot. Marketing, getting loans, getting info on neighborhoods, and all the other aspects of house flipping require communication. If you love talking to people or want to branch out, this is a great industry to be in.

Pairing Your Dream With The Right Lender

House flipping can be made easy and profitable with the right lender. Here at Entrust Capital Funding, we pride ourselves on being able to offer the best loans for home flippers of all types. Contact us today to see how we can get your dream off the ground. 

House flipper perfecting the art of flipping houses by literally flipping houses around

Terms You Should Know in the House Flipping Industry

By | el paso texas hard money lenders, hard money loans | No Comments

Real estate is a great industry to work in; it’s stable, and allows you to meet new people, take risks, and expand and grow to an almost endless degree. If you want to get started in this industry, you may want to learn some of the most common terms so you won’t get lost or confused doing your own research. 

House Flipping Terms

The house flipping industry has a lot of terms that are unique to the industry and are brought up a ton from experienced home flippers. Here as some of the most common that you’ll see and hear regularly:

  • Reno project – This one is pretty simple—this refers to a home that will need a renovation before it is sold on the market. 
  • Wholesaler – A wholesaler is a person who buys homes as-is and will sell them to another flipper. They don’t waste time renovating or selling a home to someone who will actually live in it. 
  • Bene – Bene is short for beneficiary, and that is typically a bank or lender that has ownership of a foreclosed property. 
  • Distressed property – A distressed property is one that is late on payments, and is in danger of foreclosure. 
  • NOD – NOD stands for notice of default, and is the point where a house is due to be foreclosed on. You can often get a list of these properties in advance, but it’ll cost you. 
  • Dollhouse and Haircut – Dollhouse and haircut just mean that homes are in pretty good shape, and need minimal renovation to be ready for the market.
  • LTV – LTV is just the Loan-to-Value ratio, meaning the difference in the loan and appraised value of the home. 
  • ARV – ARV stands for After Repair Value, and it’s just the value you of your home after renovations. This is where your profit comes in, so you need to have an idea of this number before you renovate.
  • Hard-money lender – Oh wait, that’s us! A hard-money lender is a private lender, meaning the money comes from private investors, and not from a bank. That means that you can get your money fast, and go on flipping or renovating your house much faster than a traditional lender. 

Contact Entrust Capital Funding, Today!

When you’re in need of a hard loan that can get you the house or renovation project with the lowest interest rates in town, call Entrust Capital. Let us finance your real estate dreams today!