The real estate game plan

[Demario Scott]

Hello BP family,

I have been looking into RE for some time now. I came across the house hacking concept and it was a no brainer for me. I’m now looking to perhaps getting into flipping.

I am considering a flip however I don’t have a substantial pot of money to deploy towards a flip. So I am wondering what are some financing options to get it done. I have a single family I just closed on to house hack back in December and again I only have about 20k to put towards a flip.

A local investing group has meetups and with an investment of a few grad they say they will plug you in with wholesalers, and contractors and lend an ear to compete the flip does that sound like Something any of you would do for a first flip.

And if not a flip what options should

A 22 year old, house hacking, with 20k do to propel their finical situation.

[Brandon Halley]

In my experience if you want to do flips you do not necessarily need a lot of money - what you really need is an exceptional deal. Money believe it or not is a lot easier to find than a good deal. Most people shop with a budget but I think its a bad idea. If you can spot a 150k value add on a 500k project - trust me, you'll find the money. Make it your goal to be the best deal finder and learn to recognize one when you see it.