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What have you learned in 2019?

12/27/2019

This is the time of year to think about the lessons learned over the past year. So, maybe you just finished flipping a distressed property. Foreclosures are a big part of the business as a flipper and there is a lot to discuss. First, here's a quick brush up on the differences between the various terms from short sale, pre-foreclosure, and foreclosure?

Top on the list regarding dealing with foreclosures is proceed with caution. This may be a tough thing while bidding in an auction so it's really important to do your due diligence on finding and researching the property. There are also many different types of foreclosures:

Pre-Foreclosure
Tax Foreclosure
Bank-Owned Properties and REO's

We will cover more about the foreclosure topic in later posts. For now let's take a look at a first and second flip with one of our Borrowers with the latest Active property this December.

Magno and Sarah worked together with us from the first time we met at our booth during the Home Show in April 2019! Oh the Wonderful Things We Can Do in 2020!

Below is the first flip of Magno and Sarah on Old Great Road in North Smithfield:

This flip was on the market in just 3 months!

36 Cottage Street, Woonsocket NOW ACTIVE!
Check out the BEFORE AND AFTER

Cottage Street is a two family that required a lot more time and effort to get to the finish line:

Closed in August 2019
As you can see from above this house was gutted down to the studs.
Active late December 2019
On the market: $245,000
4 Bedrooms, 2 Bathrooms

Real Estate Calculations week 2

You may remember the word last week was appreciation as we reviewed The 50 Real Estate Investing Calculations by Michael Lantrip. The formula involved the Present Value and the Original Value. This week the word is Future Value. This is also very important to understand as an investor/flipper.

Michael Lantrip uses the Future Value Calculation as:
FV = PV x (1 + I (increase factor), Where
FV is the Future Value,
PV is the Present Value

According to million acres a motley fool company "Real estate has historically appreciated at a rate of between 3% and 5% per year, depending on the price index you're looking at."

To learn more about calculating the potential value of real estate click the link:
https://www.fool.com/millionacres/real-estate-basics/investing-basics/how-to-calculate-future-value-of-real-estate-inves/

PRIVATE LENDER OF NEW ENGLAND, LLC

36 Cottage Street, Woonsocket NOW ACTIVE!Check out the BEFORE AND AFTER

Real Estate Calculations week 2

So much to learn about real estate investing from Michael Lantrip

Two more rehab properties added this week

PRIVATE LENDER OF NEW ENGLAND

Two new rehab properties started!

This weeks story to read: Flipping Houses during a Rising Market in Melbourne, Australia

Check out our gallery updates to stay motivated!

New rehab property this month: 21 Capron St., Warwick

Two new Active Properties Before and After: 117 Bishop Hill Road, Johnston, RI and 103 Kenway Avenue, Warwick, RI

12 Janock Road in Milford, MA​Rehab Construction in Progress

New Construction Currently in​Springfield and New Bedford, Massachusetts

109 Pine Grove StreetSpringfield, MAOn the market Winter 2019$ 255,000Cape Cod to be built3 Bedrooms, 2 1/5 Baths

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36 Cottage Street, Woonsocket NOW ACTIVE!
Check out the BEFORE AND AFTER

12 Janock Road in Milford, MA
Rehab Construction in Progress

New Construction Currently in
Springfield and New Bedford, Massachusetts

109 Pine Grove Street
Springfield, MA
On the market Winter 2019
$ 255,000
Cape Cod to be built
3 Bedrooms, 2 1/5 Baths