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Updated over 5 years ago on . Most recent reply

Elandrous Peoples's profile image
Elandrous Peoples's profile image
Elandrous Peoples
  • from Gulf Shores, AL
  • Member since Mar 27, 2020

User Stats

9
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1
Votes
Elandrous Peoples's profile image
Elandrous Peoples's profile image
Elandrous Peoples
  • from Gulf Shores, AL
  • Member since Mar 27, 2020
Elandrous Peoples
  • Gulf Shores, AL
1
Votes |
9
Posts
Rehabbing & House Flipping

Fix and Flip Financing

Elandrous Peoples
  • Gulf Shores, AL
Posted

I am a newly licensed real estate agent and I have analyzed several deal. The strategy I am considering is buying a 80k house with a 20k rehab budget. Will a lender loan me 100k if the house is listed at 80k?

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Joseph M'Mwirichia's profile image
Joseph M'Mwirichia's profile image
Joseph M'Mwirichia
  • Rental Property Investor
  • from Sarasota, FL
  • Member since Mar 13, 2020

User Stats

154
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72
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Joseph M'Mwirichia's profile image
Joseph M'Mwirichia's profile image
Joseph M'Mwirichia
  • Rental Property Investor
  • from Sarasota, FL
  • Member since Mar 13, 2020
Joseph M'Mwirichia
  • Rental Property Investor
  • Sarasota, FL
72
Votes |
154
Posts
Joseph M'Mwirichia
  • Rental Property Investor
  • Sarasota, FL
Replied

Congrats on being newly licensed Elandrous. Lenders are a dime a dozen, all with different criteria. Key questions are the ARV, your experience level (or the team you assemble to handle the rehab, and if you are bringing any $ to the table. Do you intend to flip or rent and refinance the property? Your exit is a consideration too. BE GREAT!

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