Updated over 5 years ago on . Most recent reply
Hard Money/House Flip Questions
Hi folks -
I'm a small time RE investor in Northern Virginia and own 4 rented units that cashflow. I've had these units for approximately 2 years. I didn't know a whole lot before I hopped into the RE market but fortunately I have learned fast with no huge mistakes (phew!). I bought them at good price points and did some rehab in order to get top rent dollar and good tenants.
I've always been interested in doing flips and am part of a FB group that posts off market deals. Since I'm new to this part of the RE market, I have some questions I hope you all could help with (I apologize if they are eye-rolling basic!):
1. Do you traditionally need hard money to take advantage of off market deals?
2. How do you go about finding hard money?
3. Generally speaking, are these FB groups for off market deals reliable/trustworthy places to find opportunities?
The RE properties I own now were financed with my own money for down payments and loans from traditional lenders.
Thank you in advance for your help!
Chris