First Flip lending concerns

[Jessica Cook]

Hello BP,

New investors , how are you locating easy hard money lender or Pml ? w/o strict credit requirements

[Jonathan Greene]

There are a lot of options out there, but the rates are excruciating right now for new flippers. It's not a great time to do a first flip with high labor costs, high materials costs, high property costs, and high rates. The property should have more impact than credit for hard money, but if you have never used the company, you are probably looking at 14 pct and 2-3 points now.