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Updated about 4 years ago, 11/05/2020

User Stats

11
Posts
11
Votes
Jameson Dixon
  • Chicago
11
Votes |
11
Posts

Fix and flip with hard money lender in Chicago

Jameson Dixon
  • Chicago
Posted

Hi all! I decided to try and start for my first property.  My Uncle introduced me to a contractor he used to work with yesterday who buys cheap houses on the south and west side of Chicago and flips them or rents them out on section 8. He does most of the repair work himself and from the sounds of it, he seems very knowledgeable about this field. He asked me if I'd be interested in starting with a fix and flip. I was curious how do people usually fund these? I have funds saved for a down payment, but I was thinking of using a hard money lender.  Anyone used a hard money lender for their first one? How difficult is it to get a hard money loan? 

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