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Updated almost 9 years ago on . Most recent reply

User Stats

147
Posts
26
Votes
Quintessa Haynes
  • Houston, TX
26
Votes |
147
Posts

First Flip & I Neeeeeeeeeeeeeeeeeeeeeeed Help!!!!!!!

Quintessa Haynes
  • Houston, TX
Posted

I have laid eyes on a property that I want to be my first flip!! I know that I will have learn a lot MORE once I get the ball going!! But...my question is WHERE do I get funding??? I know it will be kind of hard being that I don't have an extensive portfolio, but does ANYBODY know any Hard Money Lenders that are will to take a chance on a newbie??

#PleaseHelpASistaOut

Most Popular Reply

Account Closed
  • Investor
  • LOUISVILLE, Ky
137
Votes |
299
Posts
Account Closed
  • Investor
  • LOUISVILLE, Ky
Replied

First recommendation is to get the property under contract.  THEN, look for your funding.

If the deal falls through because of lack of funding, you're not out anything, except your time.

I want to be very clear though, you should spend 100% of your time looking for financing once that property is under contract.

In parallel, once it is under contract, start looking for a buyer to assign it to.  That way, if you can't find financing, at least you can wholesale it to an end-buyer and still make some change.

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