I've seen too much $$$ being made without me. I've decided it's time to go for it. I have clients that are interested in investing in units (residential as well as commercial) as well as buying, improving, and then selling residential properties. As an advisor to a client who wants to purchase a home do some repairs and clean-up on the property and resell it...where should he begin? I know that's a broad question. What he'd like to do is borrow against the subject property, taking out some funds for repair. He has a great offer on a property that is available to him at a great price. The comps in the area are much higher than the subject property. The property needs some TLC. Are there lenders that will do this type of scenario? What info should I be gathering for them to check out (property wise, borrower info, etc)?
Like I said...I'm just starting to go for it!