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Updated over 1 year ago on . Most recent reply

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Eric Mcginn
  • Real Estate Investor
  • San Bernardino, CA
85
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221
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Financing a flip

Eric Mcginn
  • Real Estate Investor
  • San Bernardino, CA
Posted

As I’m getting closer to leaving my 9-5 and focusing more on family, I’m focusing in on what I want to do to earn a living. 
I've been doing BRRR and it's been great to watch my portfolio and net worth build up.
But to transition away From my W2s it seems like I should try a flip for income. 
My question is about financing. 
I'm thinking a certain SFH LTR I own "Tanguay St" will be the most accessible equity compared to multi units or trailers I think. Plus the rate lock is up in 2026 it.

This property is in Maine, but I will be looking to flip in Northern California, Chico / Oroville area because that’s where we’ll be moving to with my wife’s family and I’m familiar with the area.  

So are the banks in NorCal that will lend on a fixer and include a construction loan? Should I be looking for a line of credit or a mortgage? The banks seem so different compared to back east. 

Most Popular Reply

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Robin Simon
#3 Private Lending & Conventional Mortgage Advice Contributor
  • Lender
  • Austin, TX
4,414
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4,576
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Robin Simon
#3 Private Lending & Conventional Mortgage Advice Contributor
  • Lender
  • Austin, TX
Replied

I'd recommend this BiggerPockets article for learning more about your options etc!

https://www.biggerpockets.com/blog/brrrr-loans-what-are-the-...

  • Robin Simon
  • [email protected]
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