REI advice! Hard lender, Flipping. Renting

[Ilya Presler]

Hey community!, Just looking for advice on a certain topic, but let me give you some background about myself first. Ive been listening many podcasts, reading many books and just soaking as much info about REI as I can, but the best way is to go out and do it. Im 23 years old just getting started out in real estate for the last 4 months. A partner and I have obtained our first property last month, that we rent out to tenants. We are obviously looking to build and expand more but i do not want to be one dimensional. I want to try and hit real estate from every angle and see which is the better fit for me. How familiar are you guys here on bigger pockets with funding4flipping, they are a hard money lender for rehabbing and flipping. Now to my knowledge i believe you are not required to just that chunk of money for just a flip. The money we are talking is about $60-80K. Would this be a good idea to tackle on a risk like this. Any advice you guys can provide as the best approach to this and any experience with hard money lenders, Any advice and criticism is welcome!!! Thank you so much! Regards, Ilya P

[Michael Lam]

Hi @llya Presler

Welcome!

1.  Your very young and excellent job getting your feet wet sharing the risk with a partner.

2.  Hard Money lending in my opinion is for those experience in real estate.  To me I've used it to quickly get finance and do a flip.  In and out...why?  They charge you an arm and leg.  So if you don't know what your doing, you'll end up chipping away your potential profit quick.  Why go this route?  Much easier and faster to get funding.  There are other advantages to this as well, just look it up on google.

3.  Funding4Flippin I haven't heard, but they have a website that is designed to hook you in.