I want to get into house flipping but need a loan for the house purchase,what will be the best way to go about

Question

I am looking into flipping houses with my wife, this will be my first time and I have good credit and my wife has fair credit, I want to know which way will be the best way on getting a loan that will be in my best intrest for the job, by the way I'm in houston the houses aren't very expensive. Which loan would be the one I should be looking more into.

Answer 1

The best way to start if you don't have a lot of money is to buy a fixer to live in then fix it as you can out of your pay checks. Then sell by owner and take your profits to invest in the next house.
Flipping while not living in construction is way more expensive since you are paying mortgages on two homes until it is sold an need all the repair money in a few weeks.
You might buy the house nothing down thinking your 20K will fix it and support it until sold but run out of money needing 10K more so end up borrowing on credit cards or other ways to get expensive money.

Answer 2

I can help!

The only way to finance a flip is through "Hard Money" loans. These are high-interest, short-term loans. The goal is to sell or refinance as soon as the repairs are done to get into a conventional loan.

Check out http://www.NepaMortgageTips.com/flipping then call me. I'm Kevin.

The trick is to find a home with a low purchase price compared to the value of that home after improvements. At the same time, try to keep your repair costs low.

Answer 3

My best advice to you is not to consider doing this. The days of making money by flipping houses has dried up. In many markets there are 10-12 months worth of inventory available to sell. It is a buyers not a sellers market. This means that you will have a lot of competition from people who are desperate to sell their house. They will continue to reduce their prices until they sell. This will not be good news for you if you have just redone a home next door.
Unless you are willing to buy, redo, and hold for 1-2 years, I would consider another way to make money.

Answer 4

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Answer 5

Hello
I saw you loan request and I decided to help by refering you to the lender who offer me a loan few days back.
I am Michell Sandra..I got this loan by faith after tendering my collateral that secure the loan funds.
I advise you contact him as you know there are many scammer out there trying to rip off peoples money.

His contact are as folloews;
Name:Mr Davidson Johns
Email:[e-mail]
Country :United Kingdom

He will be willing to help you if only you are not a sacm.
Regards

Answer 6

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Answer 7

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Answer 8

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Answer 9

Hello
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Answer 10

Hi
I saw your question I have decided to help people out due to the fact that I myself has been scammed twice by fake lenders in my search for a loan but at last I got a reliable lender that gave me the loan($60,000 USD) that I was in dire need of. Hence I decided that I will refer anybody I come across to this God sent lender he is reliable and his terms are fair. You can get to him via his email address [e-mail] Please tell him that Deborah Kirk he gave out a loan to me . I have search for a legit lender until I got him and I decided to help my fellow humans with this because there are a lot of fake lenders out there and I do not want any body to fall a prey please get to him and tell him that I referred you to him.
Thanks.
Deborah Kirk