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Tony Ruiz
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First Fix and Flip Advice welcomed

Tony Ruiz
Posted

Just starting out in the fix and flip world talked to several hard money lenders but most require several flips to work with me since I have not done any in the past. Any tips on getting my first flip done? 

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J Scott
  • Investor
  • Sarasota, FL
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J Scott
  • Investor
  • Sarasota, FL
ModeratorReplied
Originally posted by @Tony Ruiz:
Originally posted by @Michael Plante:
Originally posted by @Tony Ruiz:

Just starting out in the fix and flip world talked to several hard money lenders but most require several flips to work with me since I have not done any in the past. Any tips on getting my first flip done? 

 May I ask how did you find these hard money lenders?


I’ve done flips for years always paid cash and always great profits.

I am Thinking about a hard money loan to do more of them faster 

I googled a couple lenders and found local banks  where I want to invest in and asked if they had hard money loans 

Banks aren't going to make hard money loans.  Banks either make conventional loans (backed by large institutions like Fannie Mae) or portfolio loans (loans back by the bank itself).  You want banks that make portfolio loans.

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