I need help with my first fix and flip in Connecticut

[Campbell Agyei]

Hi guys I’m a newbie in real estate I just closed on my first rental property and I will like to do fix and flips anybody here that can help me achieve this dream I will appreciate any little help from advice to funding in Connecticut state.

[William Joseph]

Right now the fix and flip market in CT is super competitive. I have been consistently flipping about 6-7 deals a year since 2012. The past year has been the most difficult to find quality deals. Plus, with the lack of REO inventory the competition is even stiffer.

You can likely get a hard money loan but will need money down and your terms will be 12/3 as a newbie. This puts you at a serious disadvantage over someone who is all cash on a deal.

I do not know your background but I think the most advantageous thing you could do right now is this market is to get your real estate license. I actually have no idea how some flippers operate without their own license and MLS access. You will get comfortable coming up with your ARV and save significant money if you get your license.

Wish I had some better advice for you but it is a very competitive industry.