Using an Fha 203k loan to flip a property

[Kevin Sheppard]

Good morning BP, i wanted to know if anyone has used a fha 203k loan to flip a property. If so what was your experience like? How fast was the bank paying out for work needed? Any stories would be nice. thank you

[Brian Ellis]

@Kevin Sheppard I would take everyone’s advice with a grain of salt. Including mine. You have to work with the cards you are dealt. If that happens to be a 203k loan, then just bust your a** and make it happen. That’s the best advice I can give. My market was red hot when I was searching, it took me 9 months to find the deal I wanted and another year to renovate it. I also didn’t know what I didn’t know, so there were a lot of curveballs thrown at me during the whole process. But we are very capable of making anything work with persistence and hard work. Most people don’t want to put in the work. Knowledge is important, but action is more important. Combine the both and you get the results you’re looking for.