Share this post!

Yakima fix and flip
It seems like flipping homes has become one of America’s new favorite pastimes, due in no small part to the seemingly endless stream of reality TV shows that revolve around the endeavor. Needless to say, house flipping is not as easy as it may look. If you're a new investor looking to try your hand at a flip in Yakima, there are some questions you should consider before jumping in with both feet.

Do You Have A Good Team?

Flipping a house is hardly ever a one-person undertaking. Unless you're a market expert, paying cash, proficient in construction, and a savvy negotiator...there's probably more than one facet of a home flip that you will entrust to a professional. Building strong relationships with those individuals, or companies, who will play a role in your flip, can save you time and money. You don't want to get halfway thru a remodel only to find out you chose the wrong contractor.

Is Your Timeline Reasonable?

A short turnaround time will help you keep costs like financing interest and property taxes to a minimum. On average, homes take about 180 days to flip, according to ATTOM Data Solutions. Don't depend on averages though, after all, there’s no telling what you’ll find when you start tearing down walls. Be practical about your time to completion and always leave some wiggle room should the inevitable project delays arise.

Is It Too Risky?

All investments come with some inherent level of risk, home flips are no exception. The question you're needing to ask yourself here is if the risk level is appropriate for your financial situation. Talk to a financial advisor, or an accountant, prior to planning your Yakima flip. It’s important to truly assess your risk tolerance. Depending on where you are financially, you may or may not be a good candidate for flipping houses.

Can You Plan Objectively?

While it may be tempting, the last thing you want to do is make home improvements and design decisions that reflect your personal tastes instead of what most home buyers want. Be prepared to choose home features and housing materials that are classic and offer wide appeal, even if you don't personally like those features or materials.

Do You Have Financing In Place?

Obtaining a loan for a Yakima house flip isn’t like getting a conventional loan for a home you intend to live in. Most house flippers use a “fix-and-flip” loan that’s specifically designed for purchasing and remodeling homes. Here at CIVIC, we have several financing options for prospective Yakima home flippers. Give us a call at (424) 567-4825, and we'd be happy to sit down and discuss those options with you.

Questions? Contact Brian Richard Today!

Questions?

We can help!

Click the button below and we will follow up with you asap!

Contact Us
Civic Financial is an Equal Housing Lender

© 2019 Civic Financial All Rights Reserved. Located in Redondo Beach, California, Civic Financial Services LLC is a leading private money lending provider servicing the greater Los Angeles, Dallas, Phoenix, Seattle, Portland, Denver, Miami, South Beach, Tampa, Sarasota, San Diego, San Francisco, Irvine, Las Vegas, San Jose, Riverside, San Bernardino and surrounding communities. Civic specializes in short term, non-owner occupied and investment properties financing utilizing private hard money and bridge loans.

This is not a commitment to lend. Restrictions may apply. LTV limit is based on current, accurate appraised value. Civic Financial Services, LLC reserves the right to amend rates and guidelines. All loans are made in compliance with Federal, State, and Local laws. Civic Financial Services, LLC is a California Finance Lender under NMLS 1099109 and the California Department of Business Oversight License #603L321, AZ Mortgage Broker License #092863, FL Mortgage Lender Servicer License #MLD1536, NV Mortgage License MB4419, NV Broker License #4443, NV NMLS ID #1410002, OR Mortgage Lending License #ML-5282, UT DRE Mortgage Entity License #10570639. Civic Financial Services, LLC is an equal opportunity lender. Powered by Lenderd.com - Mortgage Websites

X

Contact Us Today!

Lookin' Forward to Working with You!

Contact Brian Richard (424) 567-4825
Contact Brian Richard
Loan Status