GW Private Capital has been arranging private money loans for flip projects for many years. What makes us unique is how we structure the debt to meet your situation, experience level, and resources. We have lent 100% of the purchase price and sometimes more to some Flippers. As real estate investors ourselves, we understand how hard it is to locate a profitable deal and when the opportunity arises, you don’t want to lose it.
When you find that perfect flip deal, give us a call and we can provide you loan terms quickly. I know you will be happy with our pricing and how quickly we can put your loan or loans together. 562-789-1000.
1. Flipping Has The Potential For Huge Returns
Property flipping can be an extremely rewarding investment financially when done correctly. However, the profit depends on the purchase price, area, budget, among others. In some cases, you get the returns after a very short period often in a matter of weeks, while in others, you have to wait for a bit.
2. How to locate Great Flips
Network with as many Realtors as you can. Do not rely on one or two Realtors. Contact as many as possible and create a team of Realtors who are always looking for flip deals for you. Contact property owners direct with letters, door knocking and cold-calling. Contact property owners who live out of state and owners of rental properties. Look for distressed situations, defaults, divorces, and run-down properties. There are many other “life events” that I create situations where an owner may want to sell for a discounted price. Contact and network with Wholesalers. Wholesalers are investors who locate, tie-up and sell the flips to you after adding a small mark-up. If you want to know specific ways to locate flips, call us.
3. Develops your Business Skills
Building a successful business is not an easy task and is usually fraught with mistakes, hardships, and failure. House flipping is a business in itself teaches you how to start and manage a business. You learn how important it is to understand all aspects that business. In doing so, you develop invaluable business management skills that cannot be taught in any class.
4. You Learn The Basics Of Building and Cost Estimation
Once you begin flipping houses, you will begin to gain building construction knowledge as you undertake various repairs and renovations on different properties. For instance, you get to understand electrical and plumbing repairs, as well as the cost of building materials. You also learn how to spot big and small structural issues and environmental problems such as mold. Finding a reliable Contractor is key to your success. We recommend locating local flips and approaching contractors who are working on other flip properties. Pricing, reliability and trustworthiness are some of the factors you should consider in a contractor. If you can obtain referrals from other flippers who can give you their contractors and handymen numbers, even better.
5. You Gain Experience in Real Estate
As you continue to buy properties to flip, you quickly learn the do’s and don’ts of real estate. For instance, you learn how to estimate costs, and you are also able to hire the right contractors to handle renovations. You will learn how to choose Realtors, how to stage homes, how to project your resale “exit” price and how to sell your flip for top dollar. You don not need a real estate license to flip, but you may want to obtain one if you plan to sell your own properties as an Agent or Realtor. There are advantages to having one and not having a license. Many flippers dont have a license, so don’t rush off and get one just to flip.
6. Easy Funding With Hard Money loans
If you have cash, you have a tremendous advantage over those who need to use loans to buy their flips. If you don’t have cash you can use Private Hard Money to buy your flip properties. Private lenders make their lending decisions based primarily on the property. Private lenders look at the private you are paying for the flip, how much it will cost to repair the property and what it will sell for. Private lenders will look to your experience and how much money you have “skin in the game” to put toward the deal, for payments, down payment, repairs, closing costs and other project costs. What makes private money great is how easy it is to obtain. Find a reliable and experienced private lender like GW Private Capital and you are well on your way to building your successful flip business!
7. Learn From A Seasoned Pro!
Jay Green is the President of GW Private Capital and has flipped over 100 California properties. Jay is finishing a book on flipping that will be available soon. If you want to ask him any questions about flipping California properties, call or text him. (714) 747-1912. Jay will share with you his thoughts on locating flips, how much money you need to get started and how to analyze a deal. Best of luck!