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Updated over 11 years ago, 07/22/2013

User Stats

125
Posts
7
Votes
Alexander Bustos
  • Irving, TX
7
Votes |
125
Posts

Find property or Find loan? What's first?

Alexander Bustos
  • Irving, TX
Posted

I am really confused. I am about to setup an LLC and get ready to start my flipping journey and well I just can't seem to understand something.

I have read and listened to podcast where it mentions to find a property that your interested in first. Then come up with a plan to present to the bank/lender and explain how this deal will make a profit in order to receive the loan.

Then I have read where others say to look for a loan first and then go searching for a property.

Which comes first? the chicken or the egg? ha, but seriously maybe I am over thinking this...But I just don't know where to start. Either to find a bank or HML first, or find a great Deal first then go ask for money after coming up with the estimated total of the price of purchase plus rehab etc..

Help...

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