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Updated over 9 years ago on . Most recent reply

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Shawn Munoz
  • Vineland, NJ
6
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Best ways to fund rehabbing and flipping

Shawn Munoz
  • Vineland, NJ
Posted

I am reading up on wholesaling and i feel as though It is something i have to study much more before i try and apply it and make my first whole sale deal. I think that i will be better off fixing a house and selling it. I am currently moving into my first home but looking for property to invest in. What are some ways to fund a flip? also ways around paying 20% down if i plan on flipping the house. I will only have to pay for material costs and very little labor since i have a team of great people willing to help with the rehab. What do you guys suggest? 

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Brent Coombs
  • Investor
  • Cleveland, OH
2,655
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Brent Coombs
  • Investor
  • Cleveland, OH
Replied

@Shawn Munoz, keep reading and learning here. You first need to know HOW to find "deals" that are worth wholesaling OR rehabbing to flip. Did you get a "deal" for your own home? Perhaps start with that one. If it can be appraised 6 months after purchase for 40% more than you OWE, you should be able to re-borrow another ~15% of it's value. In the meantime, keep SAVING, so together with the refi, you will have the necessary 25% deposit to buy another investment home. Look up "BRRRR" here on BP, as a buy-to-hold strategy.

Wholesaling and Flipping are JOBS. How long can you keep calling favors in?

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