You’ve heard us speak about hard money lenders and private money loans as a financing option, and several of you have written us asking just what is a private money loan and how you might get one. Some of you have asked us how to get in touch with a hard money lender, and what requisites you need to have to get funded for a real estate deal.

We recently sat down with Jim MacArthur, owner of JMAC Funding and its website thehardmoneypros.com.

Once you find a bargain home on our site, make and offer and close the deal, it will be time to get the place in shape.

The home you chose might need a little work, or a lot. Either way, planning your home improvement wisely will keep your costs down and preserve your margin.

Limit your scope

When buying a foreclosure or other distressed real estate, oftentimes, household appliances need replacing. This can be an expensive addition to the move-in process, however some relief can now be found.

Remember not too long ago we saw people racing to dealerships to trade their old cars in?. The reason for the rush: the Cash for Clunkers incentive program from the federal government.

As you look for properties on HUDforeclosed.com, you will find plenty of great deals. But it may also seem a bit overwhelming to see the sheer quantity of homes, areas to search through, and types of homes you can buy.

How to make a decision?