Newbie Flipper! Any starter advice? :)

[Jennifer Massie]

I'm just trying to get started with my first home. I'm currently looking for foreclosures and looking to purchase something in a couple months. I'm more than likely using a hard money lender and just wondered if anyone could give any great tips on what to expect... Is hard money the way to go? What should I watch out for? etc... any advice is much appreciated! :) Thanks!

[Charles Morgan]

I used a hard money lender for my most recent purchase, 14% interest can add up fast on a flip. Try to have enough cash to complete estimated repairs plus about 100%, later you will get better at estimating repairs.