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Updated about 4 years ago on . Most recent reply

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2
Posts
1
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Burton Dines
  • Denver, CO
1
Votes |
2
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I'm 25 in Northern Colorado, need advice finding a flip property.

Burton Dines
  • Denver, CO
Posted

I'm 25 and getting into my next house flip in Northern Colorado, what advice can I get for the finding, financing and closing sides of the process? I have only done one successful flip before this but wasn't really thinking of making a business out of it. Ended up being crazy successful by the end of it so I want to keep it up. Just need help finding something where the numbers work out.

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34
Posts
13
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Blake A. Rivers
  • Lender
13
Votes |
34
Posts
Replied

@Cooper Raines is correct about people losing deals to cash offers consistently and the options are limited for financing.  You should try to get a conventional loan if you don't have a property under contract, because banks take a long time to close any loan. Hard money loans are only good if you can not get financing for a property from a common lender. You also have the Private Money Lender who loans on the asset you are buying and in most cases gives 100% of the rehab costs to maximize your returns. The private money lender can close in 15 days and offer is as good as cash.

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