First time Fix & Flip

[David Hodeda]

Hello everyone, I'm planing on doing my first fix & flip in Florida next month I have 30k in cash currently talking to lenders, and, looking for properties with a great ARV.

can anyone recommend their favorite lenders that they work with, or trustworthy contractors Florida?

All help is greatly appreciated!

[Zachary Deal]

Hey David - couple of suggestions below:

As a first timer you will likely be required to bring a bit more cash to the table. Typically lenders reward experience and increase leverage as you complete more projects so would confirm with the lenders you are talking to the $30K is enough based on the price point, rehab budget, closing costs, and any reserve requirements they might have.

If you are located in Brooklyn but investing in Florida just double check this works for the lender. Remote management without experience can sometimes be difficult to get approved.

Definitely try joining some local real estate Facebook pages in the areas you are looking and partner with a real estate agent that works with investors

Hope this helps!