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Updated over 6 years ago on . Most recent reply

User Stats

19
Posts
9
Votes
Kelly Ellis
  • Contractor
  • Inverness, FL
9
Votes |
19
Posts

Financing for First House Flip

Kelly Ellis
  • Contractor
  • Inverness, FL
Posted

Hi Bigger Pockets Community! We bought a piece of lakefront property, cleared it, cleaned it up, and made a pretty good profit off of it. Now that I know more about Capital Gains tax we just bought another piece of lakefront property under our LLC (we are licensed contractors). After we sell this one we should have about $50,000 or so to invest on our next project. We are working on building up funds through flipping. Just seems to make sense, since I am a licensed contractor and Realtor. Eventually, my husband and I will get into multi family investing for long term investments.

Since $50,000 isn't enough to buy and rehab a home in my area (or most areas) I'm thinking about working with LendingOne on financing. 

Does anyone have experience working with them? 

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