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All Forum Posts by: Peyton LeFleur

Peyton LeFleur has started 1 posts and replied 1 times.

Rehabbing & House Flipping

Post: How to get money for a 19 year old

Peyton LeFleurPosted
  • Flipper/Rehabber
  • Newton, IA
  • Posts 1
  • Votes 0

What advice do you have for a 19 year old trying to do his first flip?

I have been pre-approved for a $160k FHA loan. I current live with my parents and have been working my butt of for the last year and a half saving cash. I want to move out and buy a flipper! My goal is to turn it into a duplex and rent out the second half to minimize my mortgage.

I have found a property for $99,000, but I honest think I could get is for $85,000. Comps are about $80k-90k

The thing I'm most scared about is not being approved for a renovation loan! Do you have any ideas for what I could do about that?

(P.s. I have a 765 FICO)

Thanks!

0 Votes