First Flip Financing

[James Richardson]

I am looking to get into real estate and wanted to start off with a flip in the DFW I was looking for something in the $150k-$250k range (including renovation cost). Since I am 19 years old and starting out, would a hard money loan be my best option for financing my first deal? If so what would the process look like once I find an opportunity I'd like to invest in.

[Jack Tulloch]

Hey James,

As far as financing goes, yes, a Hard Money loan is generally a great option for buying and renovating properties. The process is typically pretty straight forward but you will need to identify a lender who is OK with first time investors. Once you find a property, you will reach out to the lender and provide them all of the details of the deal and they will tell you if its something they can or cant do.

I suggest finding something needing light to moderate cosmetic work for you first flip to make it less risky and easier to get financing.