All Forum Posts by: Steven Andrews

Thanks for all the responses.  

I appreciate the reply, however, for explaining purposes I used an example.  I agree that would be a bad flip. I am using hypothetical numbers so I can get a better understanding to my question. 

Maybe! So, I find a house that is for sale at an asking price of 100k.  The amount of money needed for rehab is 20k.  After rehab is completed the value is now 140k. Showing a gross profit of 20k

So, I have been in residential construction for over 20 years and in real estate for 7 years. I am really wanting to get into flipping due to my experience on both sides.   Who are the best lenders to use? Hard money or private money. Also, how do I find the private money lender? 

I spoke with a hard money lender & rates were ok , but they wanted me to have pretty much the same amount of money available that I was needing.  If I had the money I wouldn't need their money. Any ideas and am I going about this the correct way.  

Another question, if I am looking at a 100k buy with 20 I in repairs and ARV is 140k. How much out of my own money will I need to make this deal happen if any? Obviously, I would like to NOT come out of my own pocket if possible.