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Updated almost 9 years ago on . Most recent reply

User Stats

38
Posts
2
Votes
Sheika Nikole Reid
  • Professional
  • Washington, DC
2
Votes |
38
Posts

New to the game | Fix It or Flip It?| What would you do?

Sheika Nikole Reid
  • Professional
  • Washington, DC
Posted
Good morning all. My name is Sheika Nikole and I am a blossoming wholesaling/rehabber/investor in DC. I put a down payment on my first condo last week. I have 30 days from then to provide the rest of the funds. There is plenty of equity in this place which has made me very tempted to get a hard money lender to fix it up myself (would definitely be my first job) However, I am also being advised to just quickly wholesale it to a rehabber so that I can recover from the initial payment and move on to the next deal. I would like some perspective on when it's best to fix, when it's best to flip, and when to hold. What are logical terms for hard money lending?

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