Funding and Flipping

[Rico D Williams]

I am about to start my first flip, and am having problems approaching banks for a reno/rehab loan. Do you tend to go in armed with sketches and blueprints? What kind of presentation do you use when trying to get funding for your flips?

[Alex Young]

blueprints, naw.... are you going to a community bank or a chain branch ?   If its a community bank, most likely they will know the area, possibly even the unit number you are after.  Take all your numbers... Tell them your realtor.. show comps.  Show you have spare money.. get your credit ready. 

I don't take anything to my lender anymore... I call him, say "found another on 101 cherry, need pre approval letter".  Done.

you'll get the money, and if you dont , they will give you the steps to take to get it in the future.  Banks want to give you a loan, some new investors think they have to over impress lenders