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Updated almost 7 years ago on . Most recent reply

Forrest Williams's profile image
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Forrest Williams
  • Real Estate Agent
  • from Chicagoland
  • Member since Aug 13, 2018
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Forrest Williams's profile image
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Forrest Williams
  • Real Estate Agent
  • from Chicagoland
  • Member since Aug 13, 2018
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Forrest Williams
  • Real Estate Agent
  • Chicagoland
199
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314
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Foreclosures

Funding a flip through a big box store

Forrest Williams
  • Real Estate Agent
  • Chicagoland
Posted

Home Depot offers a 55k project loan to finance home repairs. I assume other big box stores have similar deals. Is it worth it to buy a foreclosed house and use that loan to finace the flip? Basically using the loan to have Home Depot/Lowes do all the installation and changes. You would be stuck with their products yes, but it might save time. Has anyone tried this strategy? Is it worth it? Does it cut into profit margins too much?

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Matthew Paul
  • #2 Contractors Contributor
  • from Severna Park, Maryland
  • Member since Aug 25, 2013
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Matthew Paul
  • #2 Contractors Contributor
  • from Severna Park, Maryland
  • Member since Aug 25, 2013
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Matthew Paul#2 Contractors Contributor
  • Severna Park, MD
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Matthew Paul#2 Contractors Contributor
  • Severna Park, MD
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Home depot contractors are two to three times the price of getting your own contractors . If that works for you give it a shot 

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