BorrowLabs

Bridge loans for fix-and-flips, refi, and other real estate projects – fast, simple, transparent, 100% digital.

Newbie or experienced real estate investor - we’ve got you covered.

09/13/2021

Real Estate Insights

If you want to sell your property and you want to do it fast, here are some things that you should keep in mind.

Sometimes there may be some obstacles that can make selling a property harder than it should be. “So, what should I do?” you ask. And it’s also about what you shouldn’t do. Don’t make these common mistakes!

- Overpricing your property

- Cluttering the space in the house

- Refusing to negotiate

- Not making even small renovations

- Not dealing with potential inconveniences (weird smells, signs of insects, etc.)

09/08/2021

PRO Tip Wednesday

Always have a plan B

“It is always a good idea to have a Plan B exit strategy when investing in real estate, especially if you are new to house flipping or rehab to rental.”

catalystfdg.com

Certain factors or unforseen events (like COVID-19 pandemic, perhaps?) may ruin a planned real estate exit strategy, and things can change at any given moment. This is why it's important to have a backup plan.

09/03/2021

Weekly Quiz Question

For a loan, amortization tables are used to determine the:

A. Interest rate
B. APR
C. Loan term
D. Monthly payment

Comment on the answer that you think is correct to test your knowledge on the topic.

08/27/2021

Know Your Words

CMA – Comparative market analysis. This process can be performed to determine the listing price or offer. It involves a comparison of similar houses that were recently sold in the same area to figure out the perfect price to buy or sell the desired house with similar features.

GCI - Gross commissionable income is the commission that a RE broker gets from the completed sale. A part of it goes to the RE agent as a compensation, which is agreed in advance between a broker and an agent. GCI can be calculated by multiplying the sale price by the commission rate.

SFH means single-family home. This abbreviation is very common. A SFH is a standalone home and it doesn’t share any utilities with another property. It’s also located on its own parcel of land.

08/25/2021

PRO Tip Wednesday

We’ve prepared a list of amazing, one-of-a-kind books that will be of a great help to you. Get inspired, get creative, and become an outstanding investor.

4 books every RE investor should read

1. Rich Dad, Poor Dad by Robert Kiyosaki

2. How to Invest in Real Estate by Brandon Turner

3. The Richest Man in Babylon by George S. Clason

4. The 4-Hour Workweek by Tim Farris

08/18/2021

3 Great Apps for Busy Investors

Need some help wherever you go? You can rely on these apps!

Property Fixer – If your goal is to fix and flip properties, this app is a must. It’s a great little program to have in your device whenever you are scouting for new opportunities. It helps calculate your ROI and shows overall profit from the whole flipping and reselling process.

Personal Capital – This app is awesome for personal finance. It helps you track your income and cash flow and you can even use it as a retirement planner.

Landlord Studio – an app that will be a one-stop shop for many investors. Perfect for storing all your tasks in one place, setting reminders, and managing your deals with contractors. You can also use it for easy access to all of your tax-related information.

08/13/2021

Hard money loan tips for flippers

1. When you plan a rehab, make sure to expect cost overruns: a typical rehab project will come out costing 1.5-2 times more than originally estimated.

2. Regularly review your budget at each stage of the rehab project to make sure you are aware of any potential losses, such as hidden costs, and if and when they may show up.

3. You should estimate your ARV the right way, or you may have an unpleasant outcome in the future.

4. Be ready for any potential delays in the rehab process (few, if any, rehab projects manage to avoid them!): they will mean that you will need to have more time and money in reserve.

Borrowlabs makes sure you can think more about the flipping process and less about the money. We fund up to 70% of the property value and up to 100% of the rehab costs. To learn more, go to https://borrowlabs.com

08/10/2021

Weekly Quiz Question

08/02/2021

Weekly Quiz Question

Ready or not, here we come again with another weekly quiz question. Try your best to give the right answer to see if you remember and know everything about the world of real estate. Make sure you share your answers in the comments section below.

And here’s this week’s question:

A balloon payment is…
A. The final payment on an installment plan which is bigger than the previous installments and which settles part of the obligation.
B. A larger than usual one-time payment of the outstanding principal balance at the end of the loan term.
C. The final payment on a financing plan, which is somewhat bigger than the previous installments and which settles the obligation.
D. None of the above

07/30/2021

Know Your Words

Here's the list of helpful real estate definitions. Time to learn new things or check your knowledge. Do you know all of these terms? Have you used them all in your career so far? Comment down below.

07/29/2021

Industry news

California median price had yet again the strongest price growth ever recorded: set a new record high. Screenshot courtesy of car.org and their current sales and price statistics.

07/28/2021

PRO Tip Wednesday

Buy in Your Own Backyard

"When you are new to investing in real estate, it is especially critical that you have a hands-on approach to running the property." - Forbes.com

Even if you have a trusted contractor or manager, you want to make sure the project is running smoothly, and having to drive - or fly - somewhere any time an issue arises can be prohibitively expensive and time-consuming. Buying close to home also means you can use local connections and trusted contacts to help you with your project.

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8383 Wilshire Boulevard, Ste 430
Beverly Hills, CA
90211

Website

https://borrowlabs.com/

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