Flipping a house is a big opportunity. Flipping a house is big money. There is a lot of upside, and if done right – you can walk away with a huge profit. But know from the very start that flipping a house takes money.
Before you can every start flipping, you need to make sure you know how to buy your deal. Along with the deal itself, this is one of the first most important things. Because most people don’t have a couple hundred thousand dollars extra just lying around, this normally means you will need financing.
Traditionally people think of banks when they think of buying a house. But banks don’t like flipping. They like long term loans where they can make a lot of money. And they typically don’t like the current condition of a lot of flip houses.
So if we rule out banks, what then. This is where private hard money lending comes in. Private hard money lending is a great way to get the money you need for flipping a house. It is typically really fast to get funding and relies heavily on the deal. This is great news for you and for getting started and don’t have a lot of bankable qualities built up yet.
Check back often and we will detail more about private money lending – what it is and how to use it effectively when flipping a house, or doing other real estate deals for that matter.
We will share with you how we’ve done our deals and become successful in real estate investing and house flipping.