YOU CAN EARN A REAL INCOME FLIPPING HOMES
Boots On The Ground is Your back-office support team, committed to helping you succeed in your real estate career.Learning the language of the house flipping industry is important.
At Panacea Lending, LLC, we specialize in
LEADS, FUNDING & EFFICIENCY
BOTG House Flipping Glossary
@botgapp.com
Distressed Property
Distressed homes are those that require work and or updating, but not those that would require too extensive of a financial investment to fix up to be re-sold.
Rehabbing
Rehabbing is the effort that is put forth to bring a residence up to the retail standards that are required to command the price that you are asking of the market. If you are not skilled in the details of the local building codes and if you are not knowledgable in the skills of laying down tile, or installing plumbing, or electrical fixtures, it is strongly recommended you find a trusted contractor that can bring your vision to reality.
Inventory
Inventory refers to the homes that you will be investing in. The quantity of homes in your inventory is dependent on the financial strength you can bring to the table.
Farm Area
What region, location, ZIP code, subdivisions will you be focusing your searches in. Many times a city or municipality will have an underserved area that represents strong opportunity for real estate investment.
Deal Analysis / Market Analysis
Analysis of the homes, the market they reside in, and the cost to bring that home to market are all considerations that have to be undertaken before any deal can begin. A point that may be obvious but needs to be mentioned is that the cost paid for the house and the cost to renovate, mortgage expenses, utilities, staging, and marketing need to be less than what the house will be sold for. Also, if you cannot close a deal in a short period you will be caught with insurance expenses for that residence on top of your primary residence and primary living expenses.
Bird Dog
A ‘bird dog’ was a term used to describe an individual that spends their time locating properties for you to invest in. If done right the bird dog will investigate the home to determine is return on investment (ROI) before bringing them to you.
Capital
Capital is the financing that you will bring to the table to get the deal done. Paying for the property can come from your own personal resources, a bank loan, or a hard money lender.
Real Estate Broker / Brokerage Firm
A real estate broker is a licensed real estate professional who has more experience and training in the real estate arena and who is licensed to a higher level. A real estate broker can function as an individual real estate agent and/or “hold” other real estate agent’s licenses. The real estate broker assumes the responsibility for the more technical components of the real estate transaction brought forward by their agent. They also bear the responsibility and liability of the transaction.
Real Estate Agent
A licensed real estate agent is a licensed professional that represents buyers and/or sellers with real estate transactions. These agents are paid at the time of closing with a percent commission of the selling cost. Real estate agents must have their license with a brokerage firm.
Hard Money
Hard money or private money lenders are individuals or entities that will loan money typically at higher interest rates. These lenders will typically fund deals that banks may not be as willing to fund. These types of lenders will typically loan money that has been secured by real property.
Traditional Money Lending
Most of us have experienced the borrowing of dollars from a bank for the purpose of purchasing a large asset that we want to pay off over a period of time. Extensive credit checks and paperwork is associated with this type of lending.
LET'S GET STARTED!
At Boots On The Ground we work for you!
We take the hard work out of finding distressed properties. No longer do you need to hire a bird dog or spend your time being one. Our app brings all the best properties to you.
Whether you want to rehab a property or flip it to an outside investor, you can do that from your phone.
You can build your inventory in any given farm area you choose because our app puts all the properties on a map, in the palm of your hand!
We've done the data analysis for you. No longer are you having to spend hours parsing and reformatting date to determine if a piece of property is worth your time. Our app will show you the offer price and your profit. You will have the information before you ever knock on their door!
At Boots On The Ground, we are your bank. No more worrying about loans or hard money lending. Find the leads, knock on the door, collect your money.
