Finance Upgrades and Repairs with a Washington Hard Money Lender
Every real estate investor should know how to create a budget for the greatest return on investment.
When it comes to remodeling a fix and flip or rental property, knowing not only what you can afford but how and where to best spend your money is crucial to success.
Each real estate market is unique and not every upgrade brings the same return. According to industry pros, some of the following investment property improvements are better to splurge on than others.
Home Improvements That Are (and Aren’t) Worth the Money
Spend a Little More
Paint: Higher quality paint provides better coverage, longer wear and less fading, equaling more bang for your buck. Spending a bit more now will save in the long run.
Wood floors: The price of laminate or vinyl flooring can be tempting. But nothing beats the beauty of natural wood flooring. Plus real wood can be refinished if/when needed.
Cabinets: Solid construction and hardware win out over lesser quality cabinets in spaces like kitchens and baths that are used everyday.
Countertops: Natural stone combines both durability and beauty – a winning combination in the kitchen. Consider popular choices like quartz, granite and marble.
Design: Hiring a professional designer for a remodeling job and ensuring your project is done right from the beginning will save dollars in the end.
Save a Little
Appliances: You don’t need the highest-end appliance with every bell and whistle to “sell” a property. Choose good quality, reliable appliances to compliment the look/feel of the space.
Kitchen and bath tile: Designer tile in the kitchen or bath can blow a budget in no time flat. Achieve clean, striking looks with simple ceramic tile instead. Use designer tile as a minimal accent.
Light fixtures: Well-placed ambient, task and accent lighting is more important than expensive fixtures. Focus your expenditures on simple fixtures and ample outlets.
Get Fast Cash for Upgrades with a Washington Hard Money Loan
When you’re ready to make improvements to your investment property, talk to our team of hard money lenders. We lend to investors throughout Washington State and know the local market. Our fast loan application process ensures you get financing for house flip or rental property upgrades quickly and easily. Bad credit? No problem. Call 1-888-477-0444 to learn more about our private money loan services at Gregory M. Russell.