Looking to fund my first deal!

[email protected]860-538-3672

Devin PetersonBusiness Member

Lender · Sarasota, FL · Member since 2022 · 2k+ posts · 664 votes

1y

Quote from @Jacob Lunger:

So I’m not a complete newbie when it comes to flipping — my brother-in-law’s been doing it for years, and I’ve been involved in several of his projects. I’ve helped manage budgets, materials, timelines — pretty much every part of the process. This will be my first flip under my own name, and I’m excited to make it happen.

I’ve got a great deal lined up in Miami, FL, in a strong neighborhood with solid comps and demand.

Here are the numbers:

Purchase Price: $699k

Rehab Estimate: $150K

ARV: $1.1M–$1.25M (conservative)

Comps:

House 3 blocks away (1,888 sqft) sold for $1.25M

Another ~2 blocks out (1,752 sqft) sold for $1.19M

One about 3 blocks away (1,314 sqft) sold for $1.1M

Mine is 2,032 sqft — larger than all of them.

My question is: Can I realistically get this funded? I’m already speaking with the seller, and the deal is very much in motion. Just wondering if lenders (or even capital partners) would consider working with a first-timer when the numbers are this strong.

Appreciate any honest feedback or direction.

Jacob, you should have a ton of great options here. I know a handful of great local Miami lenders that would be great fits for this. Happy to connect - good luck!

ProAlpha Capital56 Reviews

Mike GrudzienPro Member

Lender · Eugene, OR · Member since 2019 · 2k+ posts · 1k+ votes

1y

Good numbers. Wish you success with your project.

Ko KashiwagiPro Member

Lender · Los Angeles, CA · Member since 2022 · 967 posts · 445 votes

1y

Hi Jacob,

There's plenty of options out there even with no experience. A lot of times it will be based on FICO score since you don't have experience and will limit to light-medium rehab. The ARV numbers look good! Happy to help

310-848-9776

Branden Rivero

Investor · Miami, FL · Member since 2016 · 198 posts · 65 votes

1y

Quote from @Jacob Lunger:

So I’m not a complete newbie when it comes to flipping — my brother-in-law’s been doing it for years, and I’ve been involved in several of his projects. I’ve helped manage budgets, materials, timelines — pretty much every part of the process. This will be my first flip under my own name, and I’m excited to make it happen.

I’ve got a great deal lined up in Miami, FL, in a strong neighborhood with solid comps and demand.

Here are the numbers:

Purchase Price: $699k

Rehab Estimate: $150K

ARV: $1.1M–$1.25M (conservative)

Comps:

House 3 blocks away (1,888 sqft) sold for $1.25M

Another ~2 blocks out (1,752 sqft) sold for $1.19M

One about 3 blocks away (1,314 sqft) sold for $1.1M

Mine is 2,032 sqft — larger than all of them.

My question is: Can I realistically get this funded? I’m already speaking with the seller, and the deal is very much in motion. Just wondering if lenders (or even capital partners) would consider working with a first-timer when the numbers are this strong.

Appreciate any honest feedback or direction.

Hey I would be open to this , feel free to reach out if you are still looking

Scott WolfPro Member

Lender · Boca Raton, FL · Member since 2014 · 1k+ posts · 957 votes

1y

Quote from @Jacob Lunger:

So I’m not a complete newbie when it comes to flipping — my brother-in-law’s been doing it for years, and I’ve been involved in several of his projects. I’ve helped manage budgets, materials, timelines — pretty much every part of the process. This will be my first flip under my own name, and I’m excited to make it happen.

I’ve got a great deal lined up in Miami, FL, in a strong neighborhood with solid comps and demand.

Here are the numbers:

Purchase Price: $699k

Rehab Estimate: $150K

ARV: $1.1M–$1.25M (conservative)

Comps:

House 3 blocks away (1,888 sqft) sold for $1.25M

Another ~2 blocks out (1,752 sqft) sold for $1.19M

One about 3 blocks away (1,314 sqft) sold for $1.1M

Mine is 2,032 sqft — larger than all of them.

My question is: Can I realistically get this funded? I’m already speaking with the seller, and the deal is very much in motion. Just wondering if lenders (or even capital partners) would consider working with a first-timer when the numbers are this strong.

Appreciate any honest feedback or direction.

It's doable. We would want to see experience where the borrower is on title. If you partnered with your cousin, you could also use his experience to get you better leverage and rates.

[email protected]818-269-7983

Erik EstradaBusiness Member

Lender · Member since 2022 · 6k+ posts · 1k+ votes

1y

Quote from @Jacob Lunger:

So I’m not a complete newbie when it comes to flipping — my brother-in-law’s been doing it for years, and I’ve been involved in several of his projects. I’ve helped manage budgets, materials, timelines — pretty much every part of the process. This will be my first flip under my own name, and I’m excited to make it happen.

I’ve got a great deal lined up in Miami, FL, in a strong neighborhood with solid comps and demand.

Here are the numbers:

Purchase Price: $699k

Rehab Estimate: $150K

ARV: $1.1M–$1.25M (conservative)

Comps:

House 3 blocks away (1,888 sqft) sold for $1.25M

Another ~2 blocks out (1,752 sqft) sold for $1.19M

One about 3 blocks away (1,314 sqft) sold for $1.1M

Mine is 2,032 sqft — larger than all of them.

My question is: Can I realistically get this funded? I’m already speaking with the seller, and the deal is very much in motion. Just wondering if lenders (or even capital partners) would consider working with a first-timer when the numbers are this strong.

Appreciate any honest feedback or direction.

Hey Jacob, '

Why not create an LLC with your brother in-law that has experience and have him be the PG on the loan? You will still have ownership interest in the property and still have experience in the lender's eye since your LLC will be on the settlement statement. The benefit of doing this is getting favorable terms as an experienced investor compared to a beginner investor.

Once you complete 5 or more exits, you would be classified as an experienced investor and be able to get solid financing on your own.

LuxePrivate Investments LLC 572 Reviews

Deborah Wodell

Lender · Sanford, NC · Member since 2024 · 348 posts · 116 votes

1y

Hey Jacob! Received your email. Send you a response! Would love to work on this with you.

Kate Sanchez

Member since 2025 · 242 posts · 98 votes

1y

@Jacob Lunger Looks like a solid deal! Since you’ve got hands on experience, many lenders may still be open. Have you lined up a hard money option yet? Wishing you the best!

[email protected]818-770-0340

Stacy RaskinBusiness Member

Lender · Member since 2022 · 1k+ posts · 500 votes

1y

There are rehab options where 90% of the purchase price and 100% of the rehab would be covered depending on exact address (lender researches the area) and credit score / borrower profile. There are other lenders who will do less such as 80%. These loans are interest only and you would only be charged interest when you draw funds for rehab. There are 12, 18, and 24 month terms. Most investors choose the 12 month term. You can either sell or flip to long term financing such as a DSCR loan once your finished with the rehab.

Many lenders would like a borrower to have an LLC opened since a business purpose loan. The LLC doesn't have to be opened for any specific period of time.

Happy to connect to discuss further.

Bright Skyline518 Reviews

Terrence M Brannon
Member since 2018 · 11 posts · 9 votes
1y
Quote from @Stacy Raskin:

Many lenders would like a borrower to have an LLC opened since a business purpose loan. The LLC doesn't have to be opened for any specific period of time

Why are LLCs preferred over corps?
0 Reply
Stacy RaskinBusiness Member
Lender · Member since 2022 · 1k+ posts · 500 votes
1y
Quote from @Terrence M Brannon:

Quote from @Stacy Raskin:

Many lenders would like a borrower to have an LLC opened since a business purpose loan. The LLC doesn't have to be opened for any specific period of time

Why are LLCs preferred over corps?

Most borrowers seem to prefer them for ease of setting up and also for tax reasons. You can close in a corporation.
[email protected]818-770-0340
Bright Skyline518 Reviews
Website View Page
0 Reply

Ramon Ruiz

Lender · Laurel, MS · Member since 2025 · 3 posts · 1 vote

1y

Quote from @Jacob Lunger:

So I’m not a complete newbie when it comes to flipping — my brother-in-law’s been doing it for years, and I’ve been involved in several of his projects. I’ve helped manage budgets, materials, timelines — pretty much every part of the process. This will be my first flip under my own name, and I’m excited to make it happen.

I’ve got a great deal lined up in Miami, FL, in a strong neighborhood with solid comps and demand.

Here are the numbers:

Purchase Price: $699k

Rehab Estimate: $150K

ARV: $1.1M–$1.25M (conservative)

Comps:

House 3 blocks away (1,888 sqft) sold for $1.25M

Another ~2 blocks out (1,752 sqft) sold for $1.19M

One about 3 blocks away (1,314 sqft) sold for $1.1M

Mine is 2,032 sqft — larger than all of them.

My question is: Can I realistically get this funded? I’m already speaking with the seller, and the deal is very much in motion. Just wondering if lenders (or even capital partners) would consider working with a first-timer when the numbers are this strong.

Appreciate any honest feedback or direction.

Hey, this sounds like something I can help with. Feel free to reach if you still need funding.

Jacob Thorpe

Lender · Lake Geneva WI, USA · Member since 2023 · 141 posts · 72 votes

1y

Quote from @Jacob Lunger:

So I’m not a complete newbie when it comes to flipping — my brother-in-law’s been doing it for years, and I’ve been involved in several of his projects. I’ve helped manage budgets, materials, timelines — pretty much every part of the process. This will be my first flip under my own name, and I’m excited to make it happen.

I’ve got a great deal lined up in Miami, FL, in a strong neighborhood with solid comps and demand.

Here are the numbers:

Purchase Price: $699k

Rehab Estimate: $150K

ARV: $1.1M–$1.25M (conservative)

Comps:

House 3 blocks away (1,888 sqft) sold for $1.25M

Another ~2 blocks out (1,752 sqft) sold for $1.19M

One about 3 blocks away (1,314 sqft) sold for $1.1M

Mine is 2,032 sqft — larger than all of them.

My question is: Can I realistically get this funded? I’m already speaking with the seller, and the deal is very much in motion. Just wondering if lenders (or even capital partners) would consider working with a first-timer when the numbers are this strong.

Appreciate any honest feedback or direction.

If this is your first project you will most likely pay a premium on any fees, and more than likely this will be the case until you've worked with the same lender for a couple of deals.

However, hard money and private money lenders I am sure would be more than open to working with you, hearing about your experience and looking over any documents that you have, or pictures of the past flips you've worked on with your partner!

That is one of the benefits of working with hard and private money lenders or brokers vs institutional lending - you are able to build strong and long term relationships with people who actually care and are interested in what you have going on! It is not uncommon that you will find a lender who will share your vision, especially if you can build a long term relationships together!

Best of luck!

[email protected]646-914-9393

Joyce Ann MagallanesBusiness Member

Lender · NY · Member since 2025 · 510 posts · 23 votes

1y

Hi, Jacob!

Yes, we can offer 80–90% of the purchase price and 100% of the rehab budget, depending on the appraisal and credit score—especially for first-time investors.

Since this is your first project, the simpler the rehab, the better. A lighter project offers several advantages:

1. Faster turnaround and exit

2. Fewer permits required (if any)

3. Lower risk of unexpected additional costs

With a $150K rehab budget, could you share more about the current condition of the property? Also, are you increasing the square footage or just improving the existing layout?

Venture Estate Group LLC525 Reviews

Terrence M Brannon

Member since 2018 · 11 posts · 9 votes

1y

Quote from @Jacob Lunger:

ARV: $1.1M–$1.25M (conservative)

what tool did you use to calculate ARV? and how did you get the comps?

Carrie Matuga

Lender · Riverside, CA · Member since 2017 · 248 posts · 98 votes

1y

@Jacob Lunger

Your experience with your brother-in-law is definitely valuable, but just a heads-up — if you weren't on title, most lenders won't count that as verified experience. That said, would you consider partnering with him on this one as a JV? That could open up better options for you on your first flip under your own name.

The numbers on your deal look strong, especially with the comps. Just be a little cautious — Miami’s a market where there are roughly three times as many sellers as buyers, so I'd stick with the lower end of your ARV range. Let's use $1.1M as a working number.

Most lenders will cap a first-time flipper at 70–75% of ARV, which puts your max loan amount around $825K.

Here’s how the structure would likely shake out:

Purchase: $699K
Rehab: $150K
80–90% of purchase = $559,200–$629,100
Plus 100% of rehab = $150K
Total loan amount: $709,200–$779,100

You’d need:

~$69,900 down (if you’re approved for 90% of purchase)
~$37,500 in reserves (25% of the rehab budget)
Plus closing costs

This is all doable — but it’s also a big loan, and that surprises people sometimes. Even though most lenders only charge interest on drawn funds, the payments can still add up.

For reference:

At closing (before rehab is drawn): $5,767/month
Once fully drawn: $7,142/month

Just something to keep in mind. It’s less about whether the deal works — it looks like it does — and more about whether the structure fits your current liquidity. Or if it makes sense to loop your brother-in-law in as a capital or credit partner for this one.

Happy to talk through lender options if you need someone — you’re really close to putting together a great first flip. Just make sure the financing side is as solid as the deal itself.

Ned CareyPro Member

Moderator

Investor · Baltimore, MD · Member since 2008 · 17k+ posts · 13k+ votes

1y

@Jacob Lunger the short answer is yes. The question in what type of lender or who and what would the terms be.

Start meeting with lenders, various types like hard money lenders, local banks, credit unions etc. and learn their criteria for investor loans.

Drago Stanimirovic

New to Real Estate · Miami, FL · Member since 2024 · 1k+ posts · 453 votes

1y

Hey Jacob,

With your hands-on experience and the strength of this deal, yes this is very fundable, even as your first solo flip. Lenders, especially hard money lenders, focus more on the deal than your track record. You've got solid comps, a conservative ARV range, and a property that's larger than recent sales nearby, those are all strong indicators.

Most lenders will look at purchase price, rehab budget, and ARV to determine leverage. Based on your numbers, you're well within the range for up to 85%-90% of the purchase and 100% of rehab, depending on credit and liquidity. Your experience with your brother-in-law also adds credibility, even if this is your first personal project.

Stanley Yeldell

Member since 2025 · 116 posts · 52 votes

1y

Congrats, Jacob! It’s great that you’ve already got hands-on experience — that goes a long way, even if this is your first deal under your own name.

Your numbers look solid, and that ARV-to-cost spread is strong. Based on the location, size advantage, and proven comp data, yes — this is definitely fundable, even as a first-timer.

Here are a few options you could explore:

🔹 Hard Money Lenders – Many will go up to 85-90% of purchase + 100% of rehab if the deal supports it. You'll just need to show your experience (even as part of a team), and a clear exit plan.

🔹 Private Money Lenders (PMLs) – These can be more flexible and relationship-driven. If you’ve got skin in the game or a track record via your brother-in-law, many private lenders would consider it.

🔹 JV Equity Partner – Consider bringing in a capital partner for down payment and rehab in exchange for a share of profits. You bring the deal + experience, they bring funding.

If you’ve got a lender packet or deal summary put together, that’s a great first step to share with potential lenders.

If you'd like, feel free to DM — I’m a lender and also know several others active in FL who work with newer investors on solid deals like this.

You’re closer than you think — don’t let the “first deal” stigma stop you from pushing this forward 👊

Mike Klarman

Specialist · NJ · Member since 2022 · 1k+ posts · 650 votes

1y

If you brought this deal to me and asked me to get it funded for you, I'd wanna see 200k in the bank. You may have to lay out 140k plus closing costs. Also, I'd wanna see very strong credit. Over 750 if possible.

I mean this is no beginner deal. And FL can be tough on permits and insurance and this kind of high end RE can sit because there's always inventory like this in Miami.

I mean, I think you have a better shot at going broke in the project than you do exiting with like 250k in profit. Just gauging that based on what I know of first projects, FL markets, and high end RE deals.