6 Budget-Friendly Home Renovation Projects


Getting ready to sell your home? You might have been advised to go forward with some expensive renovations to entice prospective buyers. But what if your wallet just can’t handle that? If you’re a home seller on a strict budget, don’t despair; transforming your home doesn’t have to involve pricey remodeling efforts. Want to sell your home faster without spending big? Here are a few low-cost remodeling projects you can take on.

Paint Your Front Door

You can “wow” your future buyers before they even walk in without buying a new door — just give your current front door a fresh, bold coat of paint.

Choose a shade that will blend in with the general color palette of the other homes in the neighborhood and complement your home’s exterior. Consider popular choices like red, blue, or green, or neutral tones like brown or white. And make sure you choose paint designed for outdoor use — it will be formulated to withstand rain, snow, and heat, unlike interior paint.

Simple Landscaping Changes

Increasing your home’s “curb appeal” is a crucial aspect of staging. Don’t assume that you have to spend thousands of dollars on landscaping. Instead, you can simply plant native flora in raised garden beds to bring a little color to your front yard. In addition, you can also redesign your front porch — your buyers will envision themselves relaxing there on a beautiful spring day! Better Homes and Gardens suggests choosing small outdoor furniture pieces, which will help you make the most of the space and save money. Some eye-catching decor, like colorful flower pots and miniature statues, can make it look even more welcoming.

One other addition to your landscaping that can make a huge difference is to add a fence to your backyard — assuming you don’t have one already. Fortunately, adding a wood fence won’t set you back too much; you can expect to pay between $7 and $15 per foot for materials to make it yourself. However, if you want to spring for professionals, you’ll need to plan for $30 to $50 per hour for labor. However, the added expense will ensure your fence looks spectacular.

Modify Your Decor

Upgrading small features, like your lighting fixtures and door and drawer knobs, can subtly change the aesthetic within your home. In addition, thoughtful touches like cozy throw pillows, tasteful trinkets, and a cute welcome mat can help potential buyers imagine themselves living there. When it comes to staging your home, it’s all about the little things.

Items like these are already quite affordable, but for the lowest prices on home goods, hardware, and more, shop at major stores like Walmart. By finding coupons and promo codes, and making the most of cashback deals, you can reduce your final bill and make your house look like a place your buyers would want to come home to every day.

Spruce Up Your Kitchen

Potential buyers will carefully scrutinize your kitchen, so put some extra effort into sprucing up this room. Simply painting your cabinets can make the space look brand new, and you can do it in an afternoon without paying for a contractor.

Want to take things a step further without springing for a full renovation? Install a new backsplash! It’s a quick fix that will definitely upgrade the appearance of your kitchen.

Bathroom Caulk

Does the caulk in your bathroom look unsightly? Then it’s time to remove the old caulk from certain areas, like the edges of your bathtub, and go in with a caulk gun to freshen it up. You’ll be amazed at how much nicer your bathroom looks with new caulk. It’s a cheap, easy DIY fix – just move slowly and carefully to get the best results!

Secondhand Furniture

Need some new furniture to properly stage your home? Don’t pay full price; instead, buy second hand. Real Simple recommends checking out platforms like Craigslist and searching for high-quality brand names — getting major discounts on pieces that would normally be quite expensive is easier than you might think. Before bringing used furniture into your home, you should definitely check for mold and evidence of bed bugs.

When you’re selling your home, you generally want to find a buyer as soon as possible, especially if your moving date is fast approaching. However, if you don’t have the funds for major renovations, don’t stress. If you focus on budget-friendly upgrades, you’ll be surprised by how soon you find yourself at the closing meeting!

Guest Post By:

Suzie Wilson ⎸info@happierhome.net  ⎸Happier Home

The Dirty Truth about Gap Funding!


What is Gap Funding?

It’s a term that’s used very loosely.

To some, it may mean that they are looking for additional capital to “gap” a loan. However because this is such a rare occasion, most have no idea what this means.

First of all, when people seek gap funding, they don’t realize that they are alerting the lending community that they are not liquid enough to do their deal. This is already a red-flag!

Who gets Gap funding?

Gap funding, when used in the sense that I referenced above is reserved for operators and investors with prior experience flipping properties. This means that lenders want to see that you were on the HUD or Settlement statement, not just participated on the deal.. this means you have to prove your exits.

Also this experience has to have taken place within the past 1-3 years. They want you to have current knowledge of the challenges of fix and flipping before they trust you with a no-money-down transaction.

They also want to see that you have “reserves”.

This means that once they make the 100% loan to you, which includes their expensive gap capital contribution, they want to see you how you will make those payments!

If you expect them to cover all of the rehab, construction, holding costs and selling costs, the deal has to have lots of REAL potential after remodel value, prove this by having supporting comparables.

The subject will have to be in the best areas, and you need to know your rehab budget, and get it confirmed by a contractor and his proposed team. Get each trade’s bid verified if you must. This will allow you to prove the feasibility of the project. The lenders actually want to know what materials, how much labor, hours needed to complete the deal, etc.,

Gap Funding behind another Lender?

This is the usual request, a prospective client goes and gets a 1st loan quote with a “gap” that they need to find somewhere.. anywhere ! Many times the down payment is not sourced and doesn’t need to be seasoned.

The general answer is NO.

  • No because the lenders don’t know each other.
  • No because the lenders don’t know you.
  • No because I don’t know you.

Real estate is a relationship business, and a joint venture (which is what you’re proposing) is akin to a marriage, and it takes a bit of dating, and lots of trust to create that environment.

In a short answer, forget about it.

Do you have recent experience? And you need gap funding? Why?

Lenders wonder if you have a problem managing money, managing your team, managing the rehab process, or who knows right?

They ask themselves if you have recent experience why would you need gap funding.

You should be prepared with answer and Letter of Explanation to calm these concerns.

A.R.V Lending

ARV = After Repaired Value

In cases when you find an awesome opportunity, some lenders will use a formula – they add acquisition cost, plus the rehab cost, plus the closing costs, and then divide that number by the expected retail price, it gives a number, that percentage is your % of ARV, generally they max this out t 75%.

Example = $650,000 purchase price + $100,000 rehab, 8-9% closing costs = $117,000 = $867,000. Divide that by the expected retail price of $1,300,000 = 66% of ARV.

If you landed that deal above, an ARV, asset-based lender may be interested in working with you, provided you have experience with this level of flip.

That brings me to another point. If you have history of flipping $100,000 homes, but suddenly want to flip a $1,000,000 home, you may meet some resistance. Not only does the expectations grow larger, but the LTV’s get smaller, which means that down payments go up, you may then have to bring in 10%.

Alternative Funding to Gap your deals

My advice is that you consider the following alternative funding methods we’ve used to help investors get deals done.

In order to get funding, you have to be coming from a position of strength. This means you should have good credit, in this case I mean 700 fico scores. If you have a business with revenue even better, having assets that can be leveraged and possibly earning income sweetens the deal!

Unsecured Personal Funding

This can come in the form of credit cards, credit lines, from a variety of sources. These have different terms including 0% interest for an intro rate to induce you to use the credit, or 8,10, or 18%+ right off the bat. You can stack this funding up and settle around $250k, which is probably 6-7 different tradelines, with major banks like B of A, Chase, PNC, Barclays, Navy Fed, Penn Fed, Discover, PayPal, and many others. Of course, every tradeline will suffer you an inquiry, of course, this fall off or can be removed for a fee.

Business Term Loans

The business term loans are also for 700+ fico scores across the board, you will need to claim $50,000 in personal taxes, if you qualify – the rates are around 6%-9% depending on your credit profile. The term is 5-7 years. We can raise up to $500,000.

Cross Collateralization

If you have existing assets in your portfolio, these can be residential or commercial, they should have some equity, perfect if they are long-term holds. You can add extra leverage to your purchase by allowing the lender to place a lien on additional assets. This compels the lender to move forward with the loan because you’ve reduced the risk and shown good faith.

Revenue Loans

If you have a business and you earn income, you may be able to leverage that and get a lump sum that you can use for gap funding your deal.

Friends, Family and OPM

This is the hardest source of capital to get, but it would likely be a better choice than shopping for a 2nd lien, often they won’t require so much paperwork, and probably won’t require a 50/50 split, saving you a bunch on the back-end.

Creative Financing

Today we need to be fully educated and aware of the many alternative funding options available, or know someone that is!

Sometimes funding a 1st or 50th transaction requires someone with the resources and experience with structuring multiple funding rounds to achieve a goal.

I will be ready to hold your hand to get you through your first flip or purchase of a rental property, or refinancing of a portfolio or project that is about to balloon, or you just want to explore new terms, it’s no risk! I never charge consultation fees to quickly go over a loan scenario or help a borrower through the process.

If you have an interest in real estate investing, flipping, or in the market for a loan, please contact me.

Wholesaling and Flipping

Many people start off wholesaling properties – this is another term that is often used freely and could mean many things, but for this article, I’m referring to finding sellers and properties listed with agents and matching them with your investor and buyer lists to earn marketing fees for facilitating the transaction.

Investors AKA check-writers need “boots on the ground” in order to drive leads for analysis. This builds their funnel, you keep a flow of target properties coming their way, they’ll reward you with fees of $1000-$10,000+ depending on the deal and the principals.

Using my old-school approach and combining this with technology and tools, you’ll learn to structure deals from on-the-job training, but I’ll be here to answer your questions and hold your hand.

Private Lending Consultant Flight School

I offer mentoring – in these formats: Live, and on your schedule, we’ll have phone calls and Zoom screen-shares, you’ll get lots of resources including documents, templates, marketing and full instructions. Tactics that work in today’s market! You can get more info here.

Private Lending Success Video Course

I’ve Pre-recorded 6 modules that will teach you the basics and tricks I use in private lending, perfect for real estate agents, loan officers, real estate wholesalers, even those looking for another source of income. This course is short – 4.5hrs, and will teach you how to use a mobile phone to launch an extremely effective and powerful marketing campaign.

Download Private Lending Success Ebook FREE for a limited time!

Visit this link and confirm your email and receive the PDF

You can register for free on my pre-launched site Lender Tribune

Or if you want to pay a few dollars, go over to Udemy and sign up there.

greg@fixandflippers.com

323-632-3279

Los Angeles Investment Opportunities


Two R2 Projects! Build New Duplexes!
Both in the 90061 Zip Code!

1229 E. 109th Place Los Angeles, CA 90061


R2 Zoning
Existing SFR is a 2/1 756 SF
Lot size 5325 SF
Will be delivered vacant!
Price $418,000 – Buyer to take over or buy out the existing solar lease (buy-out it $18,000)- EMD $10,000
Closing February 21

437 W. 111th Place Los Angeles, CA 90061

  • R2 Zoning
  • Existing SFR is a 2/1 876 SF
  • Lot size 7003 SF VACANT!
  • Price $425,000

EMD $10,000

Closing February 10
Both of these properties are in nice neighborhoods of South-Central Los Angeles. Perfect to build new duplexes, add ADU’s, or expand the current SFR’s.

Contact me for showing or make an offer.

Greg@FixandFlippers.com

323-632-3279

Tips for Buying an Accessible Home


Your home is a space where you can escape the hustle and bustle of the world and enjoy some peace. When you’re shopping for real estate, you want to find a property that suits your personal style and needs. This is especially true if you are living with a disability. Individuals with disabilities tend to have lower-incomes, making the hunt for affordable yet accessible housing more challenging. However, with some advanced planning, time, and effort, you will find your dream home. Let the below steps guide you through the process.

Determine your budget and financing needs in advance

If you currently own a house that you are planning to sell, get an idea of how much of a profit you will make using a real estate valuation tool like Zillow. Look at properties similar to yours in terms of design and square footage in your area to get an estimate of how much your place might sell for. The money you make can go towards your down payment on your new place—ideally, about 20% of the total sale price. 

When investing in an accessible home, there may also be financing options available. For example, the U.S. Government’s Federal Housing Authority offers mortgage loans based on income received from Social Security Disability Insurance and Supplemental Security Income. You just have to prove that you will continue to receive these benefits for at least three years after applying for the loan. If you are unemployed or only employed on a partial basis because of your disability, such a loan can be helpful. 

Make a list of your accessibility needs

Different individuals have different needs in terms of accessibility. For example, individuals living with cerebral palsy are advised to get a house with a single-level floor plan that eliminates the need to climb stairs. If you have vision problems and require a guide dog, getting a house with a yard where your four-legged friend can get fresh air makes sense. Other characteristics that make a house more accessible include handrails, a shower with a seat, and doorways wide enough to accommodate a wheelchair. Keep your future accessibility minds in need as well: You might not need a wheelchair now, for instance, but will you require one down the line?

Odds are you won’t find a house that meets every single criteria on your accessibility checklist. Home renovations can help fill in the gaps. Take one of the most frequently used rooms of the house, for example—the bathroom. To make it wheelchair accessible, you can have the doorways widened, add a walk-in shower, and lower the height of the sink.

Leave plenty of time for a smooth move

Once you’ve found your accessible home, start preparing to move. To minimize stress, leave plenty of time for the transition. Plan on packing up one room at a time so that your entire house isn’t turned into a whirlwind at once. Use colored post-its to specify which boxes should go into which rooms, and keep a list of how many boxes you have per room to ensure nothing gets lost. If you are going a long distance, consider a hybrid move. With this approach, you divide your move amongst three providers—local movers to unpack your house, a transport team to drive your goods, and local movers in your new location to unload the truck. This approach tends to be cheaper and can save you up to 40% on moving costs.

There’s no need for house hunting and moving to be a stressful experience. With these guidelines, you will be able to find an accessible home and enjoy a hassle-free move. Just give yourself some time and soon enough, you’ll be comfortable in your new house.

Photo Credit: Pixabay.com

Guest Blog Post By: Patrick Young

Email: patrickyoung@ableusa.info

Commercial Lending and Business Funding Programs.


administration agreement banking blur

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We have  30 years of commercial lending relationships, including but not limited to-  no doc to full doc programs,  440 credit  to 850 credit borrowers, we have bank money rates to soft money rates to hard money rates We use the financial strengths you provide to get you the best credit facility you can qualify for.

Questions to Consider

 Let’s start with a few questions to determine what business loan programs are available for you. you can borrow as little or as much of the capital that is available to you.
1. What type of business are you in?

2. How long in business?

3. Annual gross sales?

4. Can your business provide tax returns, show net -profit at year-end? Do you have personal tax returns showing net income?

5. What are your personal credit scores?

6. How many loans do you have out now? Debt schedule

7. Do you own real estate, equipment, accounts receivables?

8. Any previous defaults on loans? any bankruptcies? any tax liens?


With the above info, we will know how we can help you, please see below and attached for some of our lending programs.

abundance achievement bank banknotes

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Commercial Real Estate Loan Request

Few questions

1. Is this a purchase or refinance?

2. Personal credit scores

3. Debt schedule?

4. Use of funds/Loan request

5. How much cash down on the purchase?

6.  Construction cost breakdown?

7. As-is value today vs after repaired value?

8. Exit to our loan? sale or refinance

9. Income from the property?

10. Projected income from property?

11.  If Land are entitlements completed?

12. Personal financial statement, possible cross collateral?

13. Experience?

14. If refinance, when did you buy, for how much $, any improvements made to date?

laptop office working men

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We  offer speed, INTEGRITY, Reliability,  30 years of industry knowledge, and we love bank turndowns,

  • Business Term loans up to $25,000,000- Subject to cash flow, noi, time in business, credit as low as 660+-, deposits, liabilities, full doc
  •  Purchase order financing and contractor materials financing to $10,000,000.
  •  MCA/ACH consolidations
  • Commercial Real estate  bridge loans, Hard money, soft money,  land,  DIP,  renovations, etc  (1003 attached)
  • USDA loans to $10,000,000 6. Factoring, receivables, A/R- financing to 95% LTV
  • Inventory capital funding.
  • Equipment leasing one-page application  to $150,000. 620 scores, full doc TO  $10M- equipment sale-leaseback
  • Partner buyout to $5,000,000 to 100% of acquisition subject to DD and 1.25 DSCR .
  • Cash-flow Revenue Loans / ACH/MCA- credit as low as 440
  • Fix n Flip – to 90% loan to cost and up to 100% loan to cost on renovations  and  up 75% ARV with 80% of today As-Is Value
  •  Fix and Rent, to 75% loan-to-cost rates from 6.50%
  • SBA Programs: Our provider is a direct SBA portfolio lender with very efficient timing to close, we have 1.15 DSCR (others 1.25 DSCR)
  • Direct relationships with commercial real estate institutional take out lenders for stable properties, bank rates.
  • Apartment Financing (Affordable Housing) to 87% LTC as low as 3.78 % rates
  • LBO for qualified buy-out transactions with EBITA and assets to secure financing, seller subordination etc.
  • Accounts Receivable to 95% of invoice as low as 7.5% annual % rates** VERY STRONG COMPANY**
  • Import capital –  Capital Group to provide SBLC to $100,000,000  and logistics with warehousing, for approved transactions. (ie; order for  machine parts from China,  whereas client, needs capital to secure order,  with product sold to USA car manufacturing, SBLC could be provided.)

Unsecured Business  Credit lines, Term loans,  and Bank cards based on 680+ Credit scores

  • Start-ups ok, No income Required
  •  Seasoned High credit limits – with low utilization- low inquires for max leverage 
  • Like “Internet Pawn Shop”– We can liquidate Autos, gems, art, lender takes possession of the asset. You get Cash Fast!
  • CREDIT RESTORATION – No up-front money due – Negative items deleted in under 21 days,  payment due when negative items removed!
  • Federal Gov’t contact Mobilization capital for Seasoned and startup contract holders will be reviewed. Bank product full doc compliance.
  • High-risk merchant processing available.
  • NEW  FIX N FLIP- TO 100% LTC – including, fees, points, interest reserves, renovations, Joint Venture – Requires Experience and Location approval

NEW Vacant Commercial buildings can be financed based on  future market rents- to 80% LTV-  rates as low as 7.25 % with 720 credit

men on brown scaffolding

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NEW   1-4 units  SFR  Investor – Can be vacant – Non-owner occupied – to 80% LTV, rates as low as 6.5% with 720 scores and market rents.

  •  Accounts Receivable – No- Redirect, Non-Notification, No lockbox, credit lines.
  •  Equipment Sale Leaseback – No documents- No tax returns, no min credit requirements, only new appraisal forced liquidation value.
  •  Construction Mobilization Capital, Purchase order mobilization capital, Materials financing for construction jobs.
  •  Equipment Sale – Leaseback – No Credit requirements, No Financial covenants, No doc, Stated, up to 75% of forced liquidation value, new appraisal, and inspection required.
  •  No redirect, non-notification, no lockbox required credit line for accounts receivable
  •  Foreclosure Bailout for Commercial Properties 
  •  Inventory capital, financing against free and clear owned inventory 
  •  Start-up Capital – Unsecured- 680+ Credit, Stated and Full doc- 
  • Unsecured Term Loans, Credit lines, Monthly payments, Installment Loans, Start-ups ok, Credit score 680 and up


Please provide what is pertinent to your file- the more you can prove the better the rates, terms, leverage.


 To get Business Capital Funding

person holding gray twist pen and white printer paper on brown wooden table

Photo by Cytonn Photography on Pexels.com


1. Fully complete the Application, all questions with wet signatures.

2. 6 months bank statements, all pages, including any merchant processing, if seasonal 12 months bank statements

3. list of all advances and loans with payoff statements

4. list of all receivables, aging report, collection report

5. List of all equipment, when bought, for much money, and total liquidated value, serial numbers and model numbers.

6. Inventory, when it was purchased and for how much money, with sell-out value.

7. Profit and loss, Year-to-Date and Balance Sheet

8. Provide your credit scores, Try IdentityIq.com or MyFico.com to get your 3 bureau credit report.

9. List any financial problems, and previous turn downs, any bankruptcies, judgments or liens.

10. Provide a simple explanation letter for the use-of-funds and how this capital will improve your business.

11. Prove you have 2 years in business and with personal tax returns.

12. Please list of all your real estate holdings, when bought, the value today, any debt and leases.

13. Complete a personal financial statement.

14. Address any additional conditions that will be requested with a term sheet.

15. Invoices for new equipment purchases, or commercial real estate expenses.

Documents Needed

  • 1003 application 
  • bank statements
  • profit and loss
  • leases
  • rent roll
  •  use of funds
  •  loan request
  •  resume
  •  the credit of all borrowers 
  •  when bought and for how much and any improvements
  •  appraisal
  •  PFS- personal financial statement
  •  title report
  • . list of all debt
  •  PURCHASE  SALE AGREEMENT 
  •  PERSONAL TAX RETURNS AND IF TAX RETURNS AVAILABLE ON PURCHASE
  •  Soils report – If hard money or bridge EXIT
  •  Any construction or renovation budget
  •  IRS PAYMENT PLAN (if applicable) AND IN GOOD STANDING

 www.privacyguard.com  or www.experian.com  for 3 SCORE REPORT

Greg@FixandFlippers.com

Contact me to get started today!

Newly Remodeled Smart Home in Westwood Just Listed.


Check out this hot property near Brentwood that Signature Smart Construction was blessed to work on, and collaborate with Project Buddy Pro: a local fund control and on-demand construction management company that has a Professional program that I use to source quality contractors for jobs.

Signature Smart Construction is a Malibu, California based company specializing in Luxury Smart Home Consulting, Additions, Automation, and New Builds. They are a Los Angeles division of Delta Construction and Design, Inc based in San Diego, California. CLSB #782999

This property is listed by my brother Chris Nelson from Californian Estates.

Californian Estates is a full service real estate company specializing in Luxury Estate sales is based in West Hollywood California.

Property Address: 375 Dalkeith Ave, Westwood, CA 90049

3900 SF, 8436 SF lot, Traditional Style, 4 Good size Bedrooms, 4 bathrooms,

Private Showings Only $2,950,000

Amazing location close to Wilshire Corridor, Brentwood and Bel Air. PRICED TO SELL!! This amazing property in the prestigious Westwood neighborhood, near Brentwood, Bel-Air and Beverly Hills. Recently remodeled SMART-HOME is over 3900 sq. ft. and sophisticated living, offering 4 bedrooms, 4 bathrooms. New kitchen with center island, dining room opening out to a deck overlooking the rear yard.

Property Features: 2 Large mature fruiting avocado trees. Motion sensors throughout, commercial grade hot water heater capable of heating a 8000 SF home, triple-pane windows in the back and double pane windows in the front buffers the freeway noise in the backyard.

The ceilings have all been raised up. The attic space has 14″ ceilings! You could build out an office space, gym or rec room.

The home was plumbed and set up to support a 12ftx15 ft wine cellar.

Kitchen has 36,000 BTU Restaurant Oven.

The master has a deep closet area designed to build out a dressing room area.

Alexa

Alexa has been installed to support the Ring camera monitoring the home and Samsung Smart Fridge, dishwasher, garage door opener and interior lights.

Hardwood floors and high ceilings. Living room with fireplace. The backyard includes an entertaining area and children play area. Two car garage with a built-in electric plug for our electric vehicle. Waterfall and landscaping included. This property is well under the current comparable in the area.

Seller is a general contractor and has installed brand new beams throughout. The property has been remodeled from top to bottom adding 2000 SF.

Contact my brother direct for a private showing.

Chris Nelson

Sales and Acquisitions

C – 407-421-1072

chris@californianestates.com

BRE: 02103225

Want to Build 4 homes or 8 apartment units in Central Los Angeles?


Zoned R3 near Korea town, and the Miracle Mile area.

A similar project 2 doors down, the developer is building 4 single-family homes.

There is an existing home there – 3/3 with 2816 SF. the lot is 6632 SF.

The comparable property is 421 S Wilton, that purchase price was $1.45M back in April 2016.

The purchase price is $1.490m

Proforma: Potential to earn $6M from retail sales of 4 single-family homes.

Cost to build estimate: $2.5M

Access is by appt. only.

Contact me for address