Tips and information on BRRRR using hard money lenders

[Ta’Shawn Collins]

Want to get into fixing and flipping houses in my market. Any tips or articles that I could read that would help educate myself. 

[Mike Klarman]

So, when it comes with choosing the asset there are lots who know more than me,I can tell you what to expect on the lending side once you do find a project. First, do yourself a favor and add up the rehab and purchase and then divide that number by the ARV estimate. If you're over 70% then just know you will have additional out of pocket expense.

For getting ready:

1) Open an LLC for Real Estate Transactions

2) Open an account on Experian and keep an eye on your credit 

3) Save

4) Call Lenders and ask about their fix and flip programs.  Take notes on every program and compare.  What's the same?  What's different?

5) Get good at finding projects.  If you're good at this you'll find investors who will work with you.  You in turn leverage their experience to gain yours.  Then once you have experience and cash you are off and running.