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Kenny McKeown
  • Kennewick, WA
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Deal first or funding first?

Kenny McKeown
  • Kennewick, WA
Posted Oct 18 2021, 14:39

Hey everyone! I’m a newbie, interested in fix/flips and still working towards my first deal. I’m wondering what is more important to do first; get a yes from a seller on a deal, or have funding lined up for said deal? I recognize this may be a silly question, but it’s what’s been confusing me for a while. I will probably go with a hard money loan, as well as some help from family/friends since I’m just starting out and don’t have any of my own money to put into it.

But should I only focus my efforts on landing a deal first, before I even start looking for funding? Or no? I’ve hear that if your deal is good enough, the money will find you and it won’t be hard to find funding. But I guess I need more details on that. Where EXACTLY do I start to finding a deal for a fix/flip? I’ve studied my market, been able to do comps, etc. and I find houses that I believe would be good deals, but as soon as the rubber hits the road, I choke and think I need to have money ready to go before I even ask the owner if they’re interested in selling.

HELP!!

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