Fix and flip my first property!

Fix and flip my first property!

Member since 2023 · 3 posts · 0 votes

I purchased my first property a nontraditional route in 2023 and I’m looking to fix and flip the property! This is a fantastic property and opportunity because it only needs the basement finished and very little done on the main level. This property is a gold mine because it sits on 0.28 acres in Denver and it has potential to have a full basement rental property because it has a separate entrance through the backyard. The basement is already hooked up with full electric and plumbing. I am looking for somebody who can refer me to a hard money lender so I can get this property sold.

0Reply
139 views

5 Replies

Jump to latestLatest
  • Specialist · NJ · Member since 2022 · 1k+ posts · 653 votes
    5mo

    You own it free and clear?  What are the numbers:

    Purchase price

    Rehab

    ARV

    You are looking to move into a bridge loan 3 years after purchase.  Some lenders have this as an option and some do not.  Denver is a top notch market.  From what I know of that market, you are not buying a fixer upper for less than 300k and ARVs go into the 700s - 900s.

    I've closed financing for clients in this situation a few times.  It can be done, just need to hunt down all the info they would want.

  • Austin ClarenceBusiness Member
    Lender · Phoenix, AZ · Member since 2023 · 136 posts · 32 votes
    5mo

    Happy to chat through your fix and flip options. You should be able to close without needing a credit check. Terms will vary based off experience and extent of remodels. 

    Austin Clarence with NEXA Mortgage552 Reviews
    View Page
  • Investor · Austin, TX · Member since 2021 · 497 posts · 127 votes
    5mo

    Happy to chat and understand more about it. Please check your DM!

Join the conversationCreate a free account to reply, vote on answers and follow this thread.