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Updated about 4 years ago on . Most recent reply

User Stats

34
Posts
13
Votes
Peter Schafer
13
Votes |
34
Posts

Would like some information on flipping houses

Peter Schafer
Posted

How can I begin flipping houses? I've read a fair amount of Real Estate books, saved over $12,000.00 and increased my credit score to 740. I feel I am ready from a financial perspective. I would buy the house, rehab, lease out and then do a cash out refinance so I have a little money coming in every month and could use the properties as a source of collateral for future loans. The way I see it is, I need a lender and a great GC. I hear great General Contractors are hard to come by. And my ideal lender would offer 100% LTV. So I guess my main questions would be, does anyone have a lender that could provide loans in the Iowa area at 100% LTV, where to find a great GC, and is there anybody else I would need on my team? Other than agents? Thank you

Most Popular Reply

User Stats

299
Posts
249
Votes
Darson Grantham
  • Realtor
  • Des Moines
249
Votes |
299
Posts
Darson Grantham
  • Realtor
  • Des Moines
Replied

@Peter Schafer I'm from the Des Moines market and there is a lot of interest in these types of BRRR property options. Message me and I'll send you a list of banks to start conversations with and also 3-5 GC's that can give you some ideas on what rehab costs will be.

Just this morning I spoke to a GC that wanted to help an investor and share returns. 

Happy to help in anything you need, just message me. 

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