Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Starting Out
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 4 years ago,

User Stats

3
Posts
5
Votes
Anthony Jones
5
Votes |
3
Posts

Lenders For First Time Flippers

Anthony Jones
Posted

I have commercial construction project management experience and I have owned a few restaurants and other successful businesses (unsuccessful ones too). I know how to manage trades, conduct plan check, schedule inspections, and manage the budget/payroll, accounts payable at a high level. My last credit score was 722 and I used to be a commercial real estate broker until I let my license expire. But, I have ZERO flips. I am currently closing escrow on a small home that I got a mortgage from and I intend to live in it, improve the value, pay as much of it as I can as fast as I can (it's only a 77k loan) and improve the value so I can sell it for a profit. But my family and I will live in it as a home for at least a year if not more. In that sense it's a sorta flip, but not really. 

What is the most important thing I need to bring to a lender to get money for a true flip?  I'd like to focus on rehab and sell as well as rehab, rent, refinance. I get that more flips improve your odds, but what should a first timer make sure to have to get funded? Any advise or nuggets of wisdom will be taken to heart. Thanks. 

PS. Any lenders who are especially open to first timers would also be appreciated!

Loading replies...