In our last blog post we talked about the importance of qualifying a property. In this post we want to focus our attention on identifying ideal sellers that might help you make a profit on your fix-and-flip investment. As always, Anchor Loans is by your side with financing as one of the nation’s top fix and flip lenders.
As mentioned before, a number of factors help determine the profitability of fix-and-flip investments, and one of them is finding motivated sellers.
In terms of qualifying potential sellers, we look for three important characteristics:
* They want you to provide the means.
* They have the motivation.
* You can help them address unexpected “life factors”.
Let’s look at each of these in a bit more detail.
You have the means.
The ideal current seller wants someone who can come forward and give them cash the cash they need to pay off their loan.
They have the motivation.
They also want someone who can help them sell the house quickly so they don’t have to hassle with selling the property themselves.
Unexpected life factors.
Finally, they want someone who can either step in to address unexpected life events, alleviate a financial hardship that prevents them from making their payments, allows them to sell a property “as is”, or frees them up at a time when they are either too busy to fix a property up to the right standard, or literally can’t afford to make the repairs themselves.
Ready to finance your next fix and flip property? Anchor Loans has funded more than 13,900 short-term loans totaling over $4 billion — the majority of them to borrowers with less than perfect credit and on properties in need of repair.. Click here to apply for a loan or get a quick estimate.