Houston: First flip what should I Do

[Darlington Agu]

I’m interested in doing my first flip here in Houston Texas. I’ve found a great property that was flooded during Harvey. I’m looking to use hard money lending to get the property and to renovate. Any advice for a newbie flipper? Also the company I’m using is Sherman bridge lending they seem pretty good but the interest rate for is quite high 10/90 it’s 12% is this common? Thanks for your Adobe in advance.

[Courtney King]

Check with a Houston Area REIA. They have some great hard money and contractor referrals. There are so many hard money lenders out there. The best I seen with some folks at Sugar Land REIA is 2 points an 9%. Google them and I'm sure they will put you into contact with someone. Also, note if you're new...they will likely charge you higher rate/points because of the risk.