Conventional Loan/ Flipping

[Noah Davis]

Hello Everyone,

I am new to flipping. My question revolves around financing. Say I found a great property to flip. Can I use a traditional mortgage loan to flip real estate? Example below. 

Purchased price: 40k 

Rehab cost: 40k 

Down payment: 20k 

ARV/ Selling price: 115k

Total profit: 35k 

Is it possible to get a bank loan for such an example? What are the pros or cons of this? Any alternative advice? I appreciate everyone who takes the time to respond in answering these questions.

Thanks,

Noah

[Ryan Stuckey]

Hi Noah,

Congrats for putting yourself out there but you will need to study some real estate financing topics to understand what is possible out there with this rehab projects, and to much more accurately quote your costs/profits. Conventional on a flip is a non-starter, don't bother. There are several possible ways to do it but if you want to discuss how hard money works, DM me to set up a call. I'm in Ohio and happy to help a new person understand this (and help you avoid costly mistakes)...thanks