Updated over 3 years ago on . Most recent reply
Building a business plan for condo flips
I am going to start flipping properties as my primary income and I need to build a business plan.
My target market is the Myrtle Beach, SC area.
Any feedback on your preferred hard money lenders, unforeseen pitfalls in the process, typical days from purchase close to the close of the sale after rehab would be greatly appreciated.
Most Popular Reply
When I quit my job in 2003 to flip houses full-time I figured I had to have a business plan. I spent many hours on it and several months refining it. And I never got to use it :(
Because no one EVER asked me for my business plan...
Not a banker, hard-money lender, investor, partner, contractor, Realtor, title rep, home inspector, appraiser, buyer or seller. No one.
Mike asked how you plan to source your deals. That should be your #1 priority. This is the most difficult part of the house flipping process. Find good deals and everything else will work itself out. Good luck!