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» Building a Hard Money Loan Package - Property Cond
The condition of collateral property is of great importance in determining the value of subject properties. If your property is valuable, but in need of minor cosmetic uplifting, take care of as much of that as you can before submitting your loan applicaiton. Paint, signage, and cleaning are often some of the least expensive and most effective methods of demonstrating that critical "pride in ownership" of a subject property.
If you are purchasing property, obviously this will not be possible. Construct a short list of low-cost upgrades that will significantly increase the value of the property in the eyes of potential buyers which you will accomplish upon purchasing the property. Demonstrate the multiple uses of the property and how they will be valuable assets to the community in which the property sits.
