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Updated 3 months ago, 09/30/2024
Financing a rehab and flip
Hello,
My name is Moises. Recently in this year I sold my first home and relocated to Houston in which I purchased another primary residence. I been researching and doing homework on potentially taking on a rehab project and flipping it once done, I have a few properties/areas in mind. I spoke to my lender and they advised me to wait a year or 2 before applying for another mortgage since I just purchased my primary residence.
I was thinking of looking into a Hard Money loan instead of traditional lending in order to start this project, in hopes of selling the property once fixed and paying off the loan. Any recommendations or advice will be truly appreciated.