My Companies first flip was successful

[Jenna Bamlet]

Investment Info:

Single-family residence fix & flip investment in Jacksonville.

My company consist of four people. We all pulled together on 101 and we're able to scrape the money together that was needed to use a hard money lender.

How did you finance this deal?

My company used Do Hard Money to finance this flip. I believe we had to bring around 17k to the table for them to fund this property.

What was the outcome?

This house was a successful flip, even with all the issues that arose it sold and there was still a decent profit made.

Lessons learned? Challenges?

Some of the lessons learned, double your timeline. If you think you will have everything done in a week, plan for two. Some challenges we had were first of financing, we had a lot of hoops to jump through. Unreliable contractors, and some that said they knew what they were doing when they clearly didn't.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Do hard money was our lender on this property, we have continued to use them. I've heard a lot of negative fed back about these lenders. Now if it wasn't for my business partner, Shane, I don't think we would have continued using them. They require you to pay $3,000 up front to use them and their software. If you are unsuccessful with a flip the keep your money, I believe they rebate it back to you after your first flip, *if you ask about it.