Considering Our First Flip

[Demetria Clark]

My husband and I are considering our first flip. We're thinking about buying a house cash through auction and financing the rehab. This way we can optimize profit and not have a mortgage. What are our financing options? Does this even sound like a good plan? We're still in the education phase; awaiting my amazon delivery of The Book of Flipping Houses. Just thinking ahead.

[Taylor Hudgins]

Awesome!!! That's awesome that you're getting into flips!  You definitely can snag a construction loan or rehab loan depending on the situation.  I'd start calling around to a few banks to see what kind of options you may be approved for.  Since you're flipping, also feel free to ask if any business loans would work for this.  

You could also try speaking to a few hard money lenders in your area who may be open to financing the rehab period for a short amount of time until you can refinance the home and cash them out. 

Let us know how it goes!