Fixing and flipping property is a great opportunity to make money in an exciting, fulfilling venture. But you need to follow some basic rules to make that venture successful, otherwise, you’ll see your investment flop. Follow these simple guidelines to make the most of your fix and flip investment property.
1. Know How Much You Can Afford
Flipping property isn’t an inexpensive gig. It requires a lot of capital, and knowing how much you can afford for property and repairs is critical to a successful fix and flip. You may also want to start looking at financing options at this point because some financing solutions, like a private mortgage, won’t cover the full value of the property you want to invest in. It can seem like a chicken and the egg situation; you need to know how much money you have to spend but you also need to know what your options are. Contact a hard money lender to find out what your options are and how they can help you make a decision.
2. Find A Financing Solution
There are several different financing solutions available to fix and flip a property, but which one is right for you will depend on what you need and what you’re trying to do. The most common types of financing solutions include:
- Private Mortgage
- Hard Money Loans
- Fix and Flip Rehab Loans
- Commercial Real Estate Loans
- Investment Property Loans
- Construction Loans
Are you ready to invest? Contact GW Private Capital today.