Hi everyone, I’m pretty new to house flipping I’ve only done 2 flips. I would really like to get in to multiple flips at once rather than buy one fix it listed sale it get my investment and profit and start looking for the next flip. I currently use an investor sort of hard money I would say. I normally put 20% of the purchase of the property he puts in the rest plus I also pay for the rehab. I was wondering if there’s a more creative way to finance multiple projects at once? I would be able to pay the monthly payments for multiple projects but the 20% plus rehab for multiple projects would be impossible out of pocket. Thank you
You can apply multiple hard money loans at once. You may need as low as 10% down and 100% of the rehab can be financed.
Thank you. I’ll definitely look into that.
@Pablo Hernandez the above post is on target. I do know that some hard money lenders will lend you 75% of the ARV....so if you can buy and rehab at 75% or lower, then in theory, you don't need any out of pocket money. So keep searching for local lenders/connections. Bigger Pockets has some great state forums and usually there are good locals that monitor those. Also, try some local real estate meetup groups. Meetup.com is a good resource for those but some of the groups will also post here on Bigger Pockets Marketplace too. Even facebook might have some good local groups for you. But post locally for this. That's the best bet.
Hey @Pablo Hernandez ,
This concept is pretty common in the lending world. If you're capable of putting 20% into a deal many lenders would be more than happy to provide you with a fix and flip/new constructions loan for multiple properties. You should also get on the phone with a lender who can help you with your goals and can strategize with you.