Updated almost 7 years ago on . Most recent reply
Fix N Flip.. How to get started
I started buying real estate last year, I currently have 3 properties ( 2 single family homes, and currently living in a duplex). My original plan was to househack for a few years, and I still plan on doing that but I want to scale quicker and I need capital in order to purchase buy and hold properties. I have a friend who built his own house from the ground up, he did EVERYTHING, and his brother is a GC so he is able to do the work himself and have his brother sign off on everything. I have been speaking with my friend about getting into flipping some houses, he is totally willing to get into it with me. I am currently talking with some private lenders and trying to get an idea of what kinda loan products they offer. And I am looking into different ways to find deals (drive for dollars, Direct mail Campaign, FB ads).. I really want to find an off market deal because those usually are the best deals (maybe im wrong). But if anybody has any advice on finding deals, rehab costs, working with a private lender, cash our refi/selling, and how to scale up this kind of business, I would love some feedback. I am also looking to find deals local for me that is in the Utah Valley, I know that housing is kind of expensive here, but I think that is relative?? Is this true or should I be looking in markets where properties are 150k or lower? Thanks in advance.
Chad