My math might be off.

[Marcos Gonzalez]

Hello BP,

I am doing my first flip with my brother in law. It's a SFR that we are purchasing for 187k with and ARV of around 320k. We are estimating that it will need around 50k of improvements putting us at around 250k all in. We found a private money lender that will front us all the 250k in return for 10% on his investment so 25k. With his cut we would be in for about 275k leaving around 45k profit for both os us. This seems pretty good for our first flip, I am just wondering would it better to go through a HM lender so we could profit more. Or is this PM loan going to be way easier?

Thanks, 

[Marcos Gonzalez]

@David Ramirez I think that is what I am leaning towards with this being our 1st flip, it seems like the PM loan will be an easier process. Also building this relationship can help us in the future close on more properties with cash.

@Scott E. Thanks for the reply.