From HGTV stars to celebrities and everyday people, flipping is super hot these days. Find a distressed property, put some money into fixing it up and sell it for a profit. Seems simple, right? While the reality can often be more complicated than this (there are always surprises, hidden costs and market fluctuations), the truth is that you can make good money flipping. In fact, the national average for a flip in America is around $30,000 and in some states, it’s much higher. In Pennsylvania, for instance, the average time to flip was 199 days and the average profit was $105,190 per flip, according to CNBC.
Flipping will also bring you a lot of skills. Some flippers hire out the work of rehabbing a home, but most learn how to do much of the work themselves. In so doing, they’re learning the ins and outs of installing flooring, putting in new kitchen cabinetry and redoing the landscaping and lots of other useful skills. You’ll also learn the market, understanding how the buying and selling process works and knowing what buyers are looking for when it comes to housing upgrades.
Here’s the tricky part. You need a lot of upfront money to flip a home, including cash for the purchase and plenty of capital to do the rehab. Banks will do traditional mortgages, provided you have a great credit score, lots of money for a down payment and no issues in your past like a foreclosure or bankruptcy.
Here’s a better option — hard money Arizona ix and flip loans. They’re tailored specifically for flips, so they offer a range of advantages. First, approval is quick. Pre-approval can be done in a day and funds can be in your account in a week or two. Second, their terms are short — usually a year or less — which gives flippers just the amount of time they need to purchase, refurbish and resell a property. Finally, the loan is secured by the property, so there’s no extensive checking of credentials, making them perfect for people who less-than-stellar credit or a blemish on their financial history.
Level 4 Funding LLC
Hard Money Lender
Hard Money Loans
Hard Money Loan
Arizona Tel: (623) 582-4444
Texas Tel: (512) 516-1177
Dennis Dahlberg Broker/RI/CEO
NMLS 1057378 | AZMB 0923961 | MLO 1057378
22601 N 19th Ave Suite 112 | Phoenix | AZ | 85027
111 Congress Ave | Austin | Texas | 78701
About the Author: Dennis has been working in the real estate industry in some capacity for the last 40 years. He purchased his first property when he was just 18 years old. He quickly learned about the amazing investment opportunities provided by trust deed investing and hard money loans. His desire to help others make money in real estate investing led him to specialize in alternative funding for real estate investors who may have trouble getting a traditional bank loan. Dennis is passionate about alternative funding sources and sharing his knowledge with others to help make their dreams come true. Dennis has been married to his wonderful wife for 43 years. They have 2 beautiful daughters 5 amazing grandchildren. Dennis has been an Arizona resident for the past 40 years.