Working the due diligence process very important to your rehab's success. Especially when you are getting a loan.
First you are a smart real estate investor and have done your homework. You used all the right marketing strategies (including those the KISS Online Marketing System has provided you with!).
You have found a house that needs work, but will have good equity after the rehab.
Immediately, you put the house under contract. You will negotiate the final contract price during your inspection period, but as soon as you get the signed contract, contact KISS immediately.
You also might find our article Due Diligence Before Purchasing A Rehab Property helpful.
Next fill out our easy application to begin with. KISS Capital will review the application and contact you, the savvy real estate investor, right away to get the additional information needed to expedite your loan.
Thus begins the underwriting process. We will do our research too, but if you have provided us with "The Story" that process will go much more quickly. Send us your completed Checklist of documents to ensure the quickest approval on your loan.
There are many items like title work, insurance, appraisal, etc., that must be investigated.
Sometimes we fund loans in house. Sometimes we seek out those in our lender network. Once we have the right fit for your loan, you are approved! Closing documents are prepared and funds are put in escrow. Your title company of choice gets involved. Then the loan is closed and you are on your way to making your dreams come true.
You begin work on the house and keep your monthly interest payments current. When your work is finished, you market and sell the house and everyone gets paid.
Then we start all over again...
Remember the old cartoon with Elmer Fudd on Business and Investments? Check it out on YouTube. You must reinvest in your business to grow it. That is why you need to consider carefully whether to quit your day job or not.
Plan for just the right time when you are truly able to pay yourself a salary from your business and keep the business growing. It is not always easy to know this exact moment. You may need to consult with a good CPA to determine the amount of income your business needs to earn before it can pay you a salary and meet the matching taxes.
Planning makes all the difference.
Please do not hesitate to contact us with questions!
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