First-Time Flipper in Bakersfield – Advice on Hard Money Loans & Finding a Partner

[Tanya McDonald]

Hey BP community,

I’m a licensed real estate agent in California and have held my license for several years now. I’m finally ready to jump into my first flip and have been looking at three potential properties in Bakersfield in the $200–250K range. They’ve got strong comps and relatively light rehab needs, so I’m confident in the resale potential.

I plan to purchase and flip under my LLC, and I have a high credit score.

That said, the hard money lenders I’ve spoken with so far are offering terms around 60% ARV with 100% construction financed. From what I’ve seen and read, that seems a bit conservative—especially for someone with good credit and RE experience, even if this is my first flip.

Is this standard for Bakersfield right now? Or are there ways to negotiate better terms as a first-timer?

One lender suggested I might qualify for stronger terms if I partnered with an experienced flipper. I’m totally open to that, but I’m not sure where to start. What’s the best way to find someone reputable to work with in California, ideally someone who’s active in the Bakersfield area?

Are there meetups, BP members, Facebook groups, or agent connections you’d recommend checking out?

Appreciate any insight or direction. I’m trying to start off on the right foot and minimize mistakes on this first one. Thanks in advance!

[Tanya McDonald]

@Jaycee Greene

Thank you so much for your response! I will definitely look into connecting with agents in the area and see about networking with investors in the area!