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Updated over 7 years ago on . Most recent reply

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21
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Jasmine Bakewell-Barre'
  • New Orleans, LA
7
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21
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How did you FUND your First Flip?

Jasmine Bakewell-Barre'
  • New Orleans, LA
Posted

Did you bunker in with your parents, ate noodles, and lived on a strict budget while you worked & saved up to pay for it all on your own, did you save for a down payment and worked with a lender, did you find a Zero out-of-pocket lender or program? How did you go about funding your first flip?

Most Popular Reply

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15,749
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Will Barnard
  • Developer
  • Santa Clarita, CA
10,947
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15,749
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Will Barnard
  • Developer
  • Santa Clarita, CA
ModeratorReplied
Originally posted by @Anthony Dooley:

I funded my first flip with all of the rent from my buy and holds. The flip made money, but not that much after sales expenses, so I don't do flips anymore.

 If I quit that easy I never would have accomplished the businesses I have today!

Did you learn anything from that flip? Perhaps you over paid, took too long to rehab, underestimated rehab, had contractor problems, etc. The key is to learn from those mistakes and how do it again.

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