Smart Home Lookbook 2019


Exciting New Beginnings

In 2019 Fix and Flippers will become Signature Smart Home Consulting, LLC. We are currently rebranding and positioning ourselves to become the authority on Smart Home Technologies and consulting luxury homeowners in California on the fast growing trend of smart technologies designed to create an unprecedented level of comfort, security & personalization in our homes like we’ve never experienced. 

The first of these Signature Smart homes is located in Malibu, California and will be one-of-a-kind. 

The goal is to duplicate and scale the hush-hush proprietary technology  and make available for developers and home builders in 2019-20 to be used in homes. 

We are currently purchasing an established construction company to increase our footprint and control the smart remodel process. We will be working with contractors who specialize in these technologies, as they are very cutting- edge and most contractors are not familiar..

We plan on fully documenting the rehab process and the special tech that we install in the home. 

We can also help investors and homeowners identify various forms of private capital to upgrade and remodel their homes, add value to the property, then refinance back into a low rate, long term mortgage.

For inquiries contact me below.

When It Comes to Selling Your Home, Keep It Clean


Photo courtesy of Pexels

When It Comes to Selling Your Home, Keep It Clean

The process of getting your home ready to sell and placing it on the market, can be a stressful time for anyone but doing so while managing the logistics of a busy household can be daunting. There are a lot of factors to take into consideration when you’re getting ready to list your home like identifying what needs to be updated and freshened up or what other homes are selling for in your neighborhood. The trick to minimizing the stress is to make a plan and do your best to stick to it. Here are ways to stage and live your home until it’s sold.

Declutter Your Space

No one wants to buy a filled up, filthy house. Up your house’s appeal by tidying up and cleaning it out. If you’re not sure where to start, ask a friend or real estate agent for a fresh perspective. Decluttering can also help identify which rooms may need a little extra attention like paint or carpet cleaning. Kids rooms can be the messiest. Pre-listing is the best time to rid their closets of any clothes they’ve outgrown or donating toys they’re no longer interested in. Enlist the help of the family and have everyone take a room. The fact is you are more likely to maximize the profit of selling your home if you spruce up and pare down to essential, less personal items. Here is a declutter guide to get you started.

Make Cleaning a Game

Sure, you’ve cleaned your home and it’s ready to be put on the market, but you also live in it with your busy, messy family. It’s hard to keep it clean for more than a minute. One of the best ways to keep your house clean is to involve the kids by making cleaning fun and turn house cleaning into a game. Momtastic suggests making a toddler cleaning kit for kids who like to mimic what their parents are doing or have a laundry race whereby you shout out a color, blow a whistle and send the kids off to their rooms to pull any dirty items in that color. You can also try a game of laundry basketball. Once the kids get into it, it’ll be easier to maintain.

Know Your Worth

Before you list your property, consider checking out other home listings in your area. By determining how competitive your market is, you’ll have a better idea of what buyers are expecting and looking for. Not to mention you can see what the competition is up to. For example, the average price for a home sold in Orlando, Florida was $239,000 last month. You wouldn’t want to list your similar in size and amenities home for $400,000, as you may not get any looks. Understanding “comps” in your area, or comparables, is key to being successful in selling your home. A professional real estate agent will be able to guide you on where to start.

Staging is Key

Not all homebuyers will have children. Think about modifying the game room into a more grown-up office or flex space. Equally true, not all homebuyers will want an in-home office. The point is buyers shouldn’t have to guess the purpose of a room. Give rooms their purpose. Staging will help define what each room is generally to be used for. The Home Buying Institute offers 14 reasons to stage your home before you sell. Some include getting a head start on packing, giving the impression of a well-maintained house, and giving buyers a great first impression when they enter, among other things. Staging can even be done on a budget: freshen up with a can of paint, rearrange furniture or use slipcovers when necessary.

Selling your home can be a stressful time, but getting the kids involved with the cleanup and maintenance is doable. Make a game out of cleaning and reward the kids with hugs and kisses. Keeping your house clean and welcoming is key to selling your home!

Article submitted by: 

Kris Louis

Check out her website: Parentingwithkris.com  

kristin@parentingwithkris.com

Off-Market Rent-to-Own Home for Sale.


owner-financing

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The seller is offering exclusive owner financing terms on this single family home in Skyline Hills neighborhood. The home features 3 bedrooms and 1.5 baths. Built in 1962 with 1,169 square feet of living space.

7545 Gribble St. San Diego, CA 92114 

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The home has natural gas, public sewer & 2 car garage.

Down-payment with affordable payments with flexible terms.

Looking for a candidate with good to excellent credit &  solid income history.

Rent to Own Terms

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Off-Market Finished Lots for Sale in Michigan – Direct to Owner!


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I’m direct to the owner of the sub-divisions and he is a veteran builder. He can partner with you to build some beautiful homes in higher or lower price ranges!

Attn: Builders & Investors
Create your inventory!

Finished Lots in Genesee County Michigan

Price – $85K Value: $135K
11 Lots Available
Minimum home size is 3,000 SF
Room to develop 30 more homes
Established subdivision in Grand Blanc
It will cost around $350K = $130/PSF
Selling for $475k – $500k
4,000 SF selling for $700K
5,000 SF selling for $900K
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35 Finished Lots in Burton, Michigan

Price: $26K – $30K
Costs $120K to build 1,400-1,600 SF
( 3/4 with bonus room over garage w/2 car garage)
Established subdivision in Burton

Pine Creek 2

Pine Creek 1

If interested Contact Me Direct!

Five Smart Upgrades For Your Luxury Home


 

hi-tech-living-room-design-ideas-6-high-tech-living-room-design-inspirations-1555-x-875.jpgUpgrading your luxury home to a smart home is a smart move. With the advent of the “internet of things”, it is possible for your home to be connected in a way it could never before be. These upgrades make your home efficient and convenient, and they’re definitely attractive to buyers. In fact, luxury home buyers have come to expect that homes they look at will be smart homes.

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But how do you get started? You can definitely start small with some of the more easy and affordable upgrades, and work your way up from there. Here are some top five suggestions of easy upgrades you can make with our help.

Thermostats
Although programmable thermostats have been around for more than 50 years, newer smart thermostats do the thinking for you. They sense whether you are at home or away from home, and adjust your home temperature accordingly. At a cost of around $250, these smart thermostats save you almost as much per year in electricity use.

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Lighting
Roughly 10 percent of an electric bill goes to the cost of lighting your home. Smart lighting includes sensor systems to turn on lights when you walk into a room, or dimmer switches for certain times of the day. These systems are controlled by your smart phone, and include outdoor lighting as well to increase security and make your luxury home beautiful all at the same time.

Lutron Dimmer Lights

Door Locks
Smart door locks work with Wifi or Bluetooth to allow you to unlock your door with your smartphone. The locks can be programmed to allow certain family members or friends to access your home. You’ll never have to worry about losing your keys again—just don’t lose your phone!

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Smoke Detectors
Smart smoke detectors are a great safety feature that can save you money on your insurance premium, since most home fire fatalities happen when smoke detectors are broken or even missing. These detectors monitor smoke, carbon dioxide and air quality, to distinguish between a fire and normal cooking smoke. They’ll even send a signal to your smartphone when you’re away from home.

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Sprinklers
If you cringed when you paid your last water bill, you’re not alone. Regular lawn watering in hot climates uses a lot of money, so smart programmable sprinklers can save you significant costs—anywhere from 30 to 65 percent on your water bill. The devices automatically adjust your watering to account for the season and rainfall and best of all you can control it from your smart phone.

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Our company currently offers these smart upgrades and many more for our luxury home clients. We will provide a free consultation for smart home planning. For more info or for upgrades to your home contact us direct.

Successful Funding of Malibu Luxury Rehab Project


Last year, One of my real estate agent friends who is also an aspiring Hollywood producer and through his networking introduced me to a top production group on the Universal lot!

After a tour of the lot, we discussed the film business and the financing and investment in films they were producing.

This didn’t lead to any actual investments, but one year later, in February, my agent friend re-introduced me to this group and  after a short consultation in his office, we submitted the application package for pre-approval for a hard money rehab loan which I knew we’d get back asap because my partners and I had an established relationship with the private lender who funded the loan.

My client identified a fantastic but dated remodel candidate in Malibu with a breathtaking views of the Pacific Ocean! The property had been on & off the market since 2015 & it was clear that since the previous buyers fell out of escrow the sellers & agents were uneasy about the whole private funding offer and funding.

I knew that I only had one shot to get it right!

He negotiated a $2M purchase price, our contracting team submitted a $450K rehab budget, with a 4-5 month timeline.

We ordered the ARV appraisal, after a week, it came back at $3.6M!

The case and the borrowers were nearly a perfect candidates, except for one thing: They had no experience rehabbing high-end luxury properties, so the lender required us to join the borrower on the loan and sign as co-guarantor’s of the investment! This was unprecedented!

We entered into a project management & joint venture agreement with my borrowers which afforded them  maximum leverage on their $500k down-payment. We were able to secure 2-4 months of interest payments so that wasn’t a concern.

The plan is to refinance after the remodel is complete, payoff the hard money bridge loan @ 9.9% and 4 points, 90% of purchase & 100% of rehab, into a 30 yr, fixed rate mortgage with cash out if needed for further future investments.

We closed this loan in about 30-40 days, but this was because the property was occupied by a seller who needed extra time to vacate before we closed escrow.

We will begin rehab this week & documenting our progress as we’ll be using exclusive, new “smart home upgrades” which I’m not at liberty to disclose yet due to its status.

Our motivation to JV was based on the profit potential and deal viability as well as the borrower’s financial position and excellent credit score & profile. Also even though they were not experienced, they handled the first time investor duties with poise and we were impressed with their willingness to learn the process. Overall they were very pleasant and easy to work with!

If you have a project you’d like to joint venture on, contact me below!

Hot New Investor Loans to Watch for in 2018!


Happy New Year!

This year one of my goals is to become an even larger resource for the Fix and Flip & Investor Community. After 16 years of service in this industry, we connect investors to lenders and private funding programs nationwide.

After reviewing these new loan offers and working with dozens of lenders, I compiled this list of lenders to refer to interested parties.

I hope you enjoy!

-Greg

Successful Ohio Funding Fix/Flip Case Study


In September 2017, I received a referral from a Real Estate Agent colleague in San Diego, his friend in Cleveland Ohio needed funding for a property that purchased for cash back in July 2017 for $80,000 cash. They purchased the property to be used for a special needs daycare center (special use)

While using personal funds to finance a total interior remodel, they demo/gutted the inside of the property, with this being their first project, they were not prepared for the unexpected expenses that presented themselves.

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Their rehab was north of $60,000.

They purchased the property for cash, so the equity should available, right?

In simple terms, yes – but because of these factors the marketability of a potential loan became more difficult:

  • Location of the asset
  • Asset type (special use) not just a regular tenant rental, it’s residential used as a business.
  • Value of Asset (As-Is value was only $75K) most fix/flip hard money loan minimums are $150k
  • Owner/Borrower has 650 Fico, no previous experience flipping homes or land-lording.
  • This was a long-term Hold, but lenders who offer long-term financing at reasonable rates will only loan to stable assets, so she needed a two-step solution.
  • Gutting the property destroyed the chances of simply cash-out refinancing because the lender immediately required an appraisal inspection!

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Challenges:

  • Getting a lender to approve the refinance knowing the borrower has no previous history of completing rehabs.
  • Getting a lender to approve the loan knowing the borrower has no reserves! They underestimated their rehab, and needed the funds to complete the renovation. How will they repay the loan?
  • Developing an exit strategy for the fix/flip loan included adding a co-signor, who also needed to be added to the business LLC.

Solutions:

  • We applied in the name of the LLC with a very well-known lender, the rate was higher than we preferred, but the points were reasonable and they provided the requested cash-out to complete the rehab and reserve 12 months’ worth of interest payments so she didn’t have to worry about that. Everything was going smoothly, we had title complete, ARV appraisal came in at $160K!

I immediately fist-pumped, and did my “celebration/money” dance & awaited the imminent closing date!

The following days we had a term sheet with $15,000 cash to close as a condition? This included points, closing costs and reserves requirement! The proposed loan amount was $80,000, so I convinced her that we needed to raise the funds from somewhere!

Her father stepped up earlier in the process to qualify for the exit loan as a co-borrower, he has a 700+ fico score. To qualify for the 7.5% rate with 30 yr. fixed or 7/1 ARM with 30-day refi seasoning, you need to have a solid 660+ Fico. I offered to help them land unsecured funding to deposit to their business account to show reserves, they weren’t happy about paying the fees or the unexpected panic to perform, but reluctantly applied for and received $90k+ in personal unsecured funding from 6 different vendors.

We were ready to close the loan, when the lender suddenly backed out, saying that the DSCR was just short of qualifying?! They didn’t have they act together, it was a gross error from the underwriting team, and my account rep couldn’t get the exception approved.

It was heart-breaking. Three weeks were spent. Now it’s mid-October, in Ohio they are facing the bitter Mid-West snowy winter, and she can’t afford to slow down on the rehab..

She was blessed to have the cards to take care of expenses, however, because the cards came in her dad’s name, it wasn’t easy to convince them to let the cards go! Her parents feared that she would rack up unsecured debt that she couldn’t pay down. Ultimately destroying her father’s credit.

My team and funding partner located her a great loan, they agreed to take the rehab bid we put together, ARV appraisal, title work and loan package, it was already packaged and should’ve been a slam-dunk!

She used the credit card she received to pay a small application fee, and they announced a closing date. Unfortunately, it took about 3 weeks longer to get it done, meanwhile, honestly I’m getting nervous – my client called me with her husband on the line and they were concerned as well.

I reassured her that I knew these guys would close & that her case was very solid!

She explained the situation with the credit cards and her inability to use them.

I coached her on how to explain the importance of intent. The whole reason we are applying for multiple forms of funding is to complete the rehab at any cost!

This is your future business location. And until you complete the rehab, you are losing time & money.

Use the unsecured funds to pay your contractors and buy material, when this refi goes through, pay the lines of credit off! But have faith.

She complained that she felt bad bringing her parents into it and that she wanted to stop altogether! She was very discouraged.

I reminded her why she started! You are trying to provide a better lifestyle for your family and it requires sacrifice and your dad stepped up to help his little girl!

Don’t fail him by quitting in the middle of your plan! Continue to execute.

And she did.

Over the next couple weeks waiting in anticipation she racked up some hefty invoices from her contractor and was prepared to pay them via her unsecured credit when BOOM suddenly “Clear to Close” came across our emails, with loan docs and estimated HUD for review and signing to be completed a few days later.

 

Conclusion:

  • The process taught her a lot about financing, she learned how to qualify for fix/flip and buy/hold loans, as well as unsecured funding.
  • She had her father add her as an authorized user on all of the trade lines, so now she’ll get her own cards for easy access, she’ll build her credit score through positive history (piggy-backing) and paying all of the lines down again!
  • She received $90k unsecured financing in 3 weeks, then $75,000 3-4 weeks later @ 12% for 12 months, she received a lump sum at the table, and she has submitted a couple draws already for reimbursement. You complete the work – submit an invoice after you (take before /after pictures), then the 3rd party company reviews, approves and wires the money to your business account in 24-48 hrs.
  • She now has 6 trade lines that added $90k to her ratios, and if she keeps utilization down under 30%-40% it’ll raise her score to 700+ also with another mortgage trade line, she would be soon staring at an 800+ fico score!
  • Because we added her dad to the LLC, I’m focused next on helping them create a strong business profile with multiple business lines of credit of $200k-$500k over the next 12 months. These lines will allow them 100% access to borrowing down on the lines without affecting their business credit rating! She can open another daycare center by early 2019, or flip some properties in the area (if they choose).
  • Finally, since she’s been working on the property the whole time, she estimates being complete with the Refi by mid-January, immediately applying for the refinance into the 30-yr. fixed. The lender has already reviewed her property details, personal credit and financials and pre-approved them, additionally since the 1st payment isn’t due until January for the current loan, she has a great chance to only make 1-2 payments at 12%.

In the end, my team and I were successful at providing a couple rounds of funding for a well-deserved client. We have a long-term solution in place that she can self-sustain and scale up if preferred.

At Fix and Flippers, we approach each potential deal on a case-by-case basis. It’s helpful to remember that we are very active in the market and possess resources that may not be advertised or previously mentioned.

We help clients with credit repair, credit enhancements, traditional and non-traditional funding, both secured and unsecured. We pair up investors to structure successful joint venture partnerships.

We prefer an on-going working relationship with our clients to offer advice, consulting and resources.

We welcome Brokers and Facilitators to partner with us. You will be protected.

 

 

 

 

 

 

 

True Asset-based Fast Funding for Small Loans! No Credit Check, No Appraisal, No Income Check!


Acquisition Funding: Short Term, First Position, $10k-$99k

Capital is available, nationwide, with the following parameters:   

-$10,000-$99,000

-Up to 90 days

-Best used to acquire less-costly properties to quickly fix/flip or maybe wholesale flip

Up to 50% LTV (Loan To Value) of FMV (Fair Market Value)

No upfront or hidden fees. Quick funding decisions

No points, no interest. Not a loan.

– Funding is a Joint Venture (JV), cash-on-cash type investment

Available in all 50 states & DC

N.O.O. (Non-Owner-Occupied), investor-owned properties only

Investment must be secured by a 1st position note/deed

Funding origination & facilitation only via licensed: brokers and escrow professionals

           Why you and/or your clients should use  Short Term, First Position Funding

-It is directed at those who cannot or will not use Hard Money Lenders (1-3 months terms, low FICO score, have no cash, or do not qualify for some other reason)

-We make quick fix/flips possible, for smaller deals, that were previously impossible

– We normally fund in days, not weeks (for qualified deals)

– We do not require an appraisal, credit check or income verification

-Use our funds to get past temporary cash flow hurdles

-Pay overdue: taxes, liens, HOA fees

-Use our funds for building permits, closing costs, materials

-Bring payments up to date on other urgent loans

-Pay off a small note so property can be sold or refinanced

-Get properties out of probate, foreclosure, tax or sheriff’s sale

-Don’t tie up your personal capital, use ours

-Allows investors to leverage themselves into more deal

 

Free & Clear Funding: Short Term, First Position, $10k-$99k

Capital is available, nationwide, with the following parameters: 

Up to 90 days

$10,000-$99,000

Best used with properties that are owned free & clear by an investor

Up to 50% LTV (Loan To Value) of FMV (Fair Market Value)

No upfront or hidden fees. Quick funding decisions

No points, no interest. Not a loan.

Funding is a Joint Venture (JV), cash-on-cash type investment

Available in all 50 states & DC

N.O.O. (Non-Owner-Occupied), investor-owned properties only

Investment must be secured by a 1st position note/deed

Funding origination & facilitation only via licensed: brokers and escrow professionals

Why you and/or your clients should use  Short Term, First Position Funding

-It is directed at those who cannot secure the funds they need through normal investor financing channels. Reasons may include: low FICO score, short amount of time involved, funding amount is too small, etc., has no cash, or does not qualify for some other reason.

-We make quick fix/flips possible, for smaller deals, that were previously impossible

-Funding normally occurs in days, not weeks (for qualified deals)

-We do not require an appraisal, credit check or income verification

-Use our funds to get past temporary cash flow hurdles

-Pay overdue: taxes, liens, HOA fees

-Use our funds for building permits, closing costs, materials

-Bring payments up to date on other urgent loans

-Pay off a small note so property can be sold or refinanced

-Get properties out of probate, foreclosure, tax or sheriff’s sale

-Don’t tie up your personal capital, use ours

-Allows investors to leverage themselves into more deals 

 

Short-Term, First Position Funding, $10K-$49K for N.O.O. Mobile Homes on Investor–Owned Land

Capital is Available Nationwide

-$10,000-$49,000

-30-90 days

-Up to 25% LTV (Loan to Value)

-No up-front Fees, Quick Funding decisions

-Private funds

-Perfect for those who can’t get hard money or conventional financing, or need a short-term loan.

-Perfect for under $50,000 and low Fico scores

-Funds in days not weeks.

-No appraisal, credit check or income verification needed!

-Use funds for temporary cash flow hurdles

-Pay overdue taxes, liens, or HOA fees

-Use funds for building permits, closing costs, due diligence, materials