My book, Flipping Houses QuickStart Guide, is available on Amazon (amazon.com/dp/1636100309/?tag...)! As a house flipper of 5 years, I've flipped almost 50 houses with a six-figure profit on average. I'm so excited to share with you all the knowledge and experiences I've gained so far. I hope to help you get out of the rat race and achieve financial freedom like I did. ~~~~~~~~~~~~~~~~~~~~ Check out the House Flipping for Beginners Playlist: ua-cam.com/play/PLth4sDjOXnLXR2wUFLQkwd67Wuxx9lKRG.html
Dear Elisa, your videos are amazingly helpful but sometimes related videos are too difficult to find. For example you mentioned the vid on how to find like-minded people but where is it? Could you kindly list all the videos you mention in the description? Thanks!
I have renovated two homes, sold one at the highest price in the neighborhood, kept the other one because I loved it so much. Since prices have skyrocketed so much in my area I have been afraid of moving forward in this business and loosing my money. This video and others you have done are so inspiring that I want to try it again and flip more houses. You are so generous at sharing exactly how you do it. Thank you and wish you so much success!
Hi. I’m in an industry almost three years. Usually I work on my costumers and making apartment interiors renovations. And i was all the time hesitating to start flip properties because of afraiding to loose! ...but when I saw your video you really inspired me to take a look from another side on it ! For what I’m really thankful !
Question.? How do you know what's a good deal on a house is.? Second Question.? How do you know what the to cost of rehabilitation on a house would even cost.? Thank you
Hi Elisa, could you please make a video about how you choose your interior and exterior elements? do you work with an interior designer or do you choose all of the changes for your flips? Thank you so much for your helpful information in your videos. I appreciate all of your hard work on your UA-cam channel and you are such an inspiration to me and inspire me to work towards my dream of becoming a house flipper. If you made a Real Estate course online I would totally take it! Thanks again. -Jessica Moss
Hi Jessica! Yes, it's on my list. No, I design my own flips because I love that aspect of the business. I'm so happy to hear that you find my content helpful. I hope to continue bringing value to you!
Wow, this is my first video of yours and it actually gave me hope. Thank you for sharing that information. You are a inspiration to us all. God Bless you for all you do.
Hey! Question about the financing when using a hard money loan. How does repayment work? Is it in the form of a monthly payment similar to conventional loans?
I live in the bay are and would love to shadow you on one entire house flipping process from start to finish. I also want to get started on house flipping as a women.
Transform Real Estate Sure! I would love to learn how you tell if a deal is a good deal, the process you run to a determine a house is undervalued. Thank you!
great to know all the information you have put up. I really enjoy your video. I own a house in NY which I stay with my family and have a full-time job I would like to do flip house business and have more questions to ask if you kindly help me. I don't have much liquid cash to start with and have equity on the house. please let me know what to do. thanks,
Hello! I ran into your videos today. I recently graduated and received my associates of applied science in business. I want to get into real estate and flip houses. What is the process to beginning this journey?
Hi .. I’ve always wondered how to do pay back hard money lender loan? Can you still get one if you want to tent out the house? Or do you have to sell to pay back? Is it hard for beginners in Dallas?
how did you first find your contractor to help with your flips and what characteristics do you look for to understand that they're a trustworthy and good general contractor?
Hi Elisa, thank you for. Your sharing. I am starting out in the bay area too. May I know where did you get your HELOC? I heard that some banks dont do HELOC anymore because of the pandemic
@@TransformRealEstate Thanks for your reply Elisa. Yes. I want to hear more about your journey from small cosmetic update to major updates like adding extension to a house and how does that process help you build confidence of handling a big house flipping project especially with a full time job. I assume the flipping process of your first house(the victorian style one) is more complicated than remodeling your own house.
@@zhangcheng1471 Got it. Yeah, the remodeling experience with my own home and rental did help me build the confidence and the capital. I'll think about how to make a prequel :)
i am a fellow asian hustle network member and i am an upcoming real estate in southern California.looking for some tips and tricks to become a R.E investor
Hi I absolutely love your video and about to start looking for my first flip deal, I did however wanted to know more about how you talk to your investors and how you calculate the percentage you give for return in investment?
Hi there, thanks! The conversation you have with investors depends on their questions and % you offer depends on the deal. If the deal has high margin, then you offer a smaller %, vice versa.
I love your channel so much! it's very inspiring so thank you! I was wondering, do you know or have resources about the legality behind angel investors? In other words, I don't have money to begin this journey of buying and flipping houses but I have some friends who are willing to go in with me on a purchase. So, do you know the laws or rules for angel investors to invest in me? (I want to help them feel comfortable investing in me)
@detailedbymarvs5817 How are you since your last post? Did you get your questions answered? I can be a resource for you or even funds your transactions if you need it. Feel free to reach out!
Hey quick question why would the private money lender lend to you if the hard money lender is the one who will have a lien on the property if the deal goes bad
@niaanae7559, How are you since your last post? Did you get your questions answered? I can be a resource for you or even funds your transactions if you need it. Feel free to reach out!
Wow, surprised to hear that you have a hard money lender who can close in 1 week! I am just getting started with house flipping, but most of the lenders I have talked to so far require at least 3 weeks total until closing, due to the need for their own inspection. Do you think it's because of your existing relationship with a lender that you can close so quickly?
Where are you located? I've worked with 3 lenders so far, and all of them were able to close within a week - that's kind of a given in the lending world here. Some of them do inspections too, but can still close on time.
@@TransformRealEstate I am looking to start flipping in Indianapolis, IN and live in SC. I've talked to 4 HM lenders so far. The shortest time frame from sending them a deal for evaluation until closing has been 15 business days, so 3 weeks. Maybe being remote has something to do with it? (But it shouldn't.)
How are you able to get a contract under agreement for say $5000 from the seller if you have no money. Dont they want to see what type of income you have to be Purchasing their house also if the house is beat up how do you pay for repairs and renovation to actually make it seem that that house can be marketable on Facebook or wherever you decide to market that house? And what if you can’t sell the house within the time ?
You don’t remodel, the buyer you find does... but that’s the whole point. They don’t have to see your income, because your not the one buying. You’re the middling the sale. So your contract will read once they’ve signed that payment will be in made in 30 days of agreement
You won't know the actual sale price until you flip and resell, but you can estimate the value. I'm working on a video on estimating a home's value. Stay tuned!
Yes! Thanks for your interest. I just launched my coaching program, Transform Flipper Academy, to teach you to flip houses the right way. If you're still interested, apply here: transformflipperacademy.com
i saw your other video talking about sharing your profit with your mentor - very impressive. May I know how much in general? also, how many point higher you offer to friends and family for borrowing their money. is it 100% trust basis? Thank you very much. Is there a way to connect with you in person? Hope i did not ask too much
How much profit you share really depends on how much each party is putting into the deal. There's no right or wrong. I shared 20% with my mentor. I'm working on a video where I'll share more details on that. In the Bay Area, private money lenders usually charge 10% and 3 points. They'll have a promissory note and a deed of trust where they can use to collect the money if needed. Good luck!
Awesome videos; I'm Very much interested in investing in real estate and would really like to know more about this, as I have been doing my research for a while now. I'm in Canada, and the market is risky now, but there is a lot of potential, too. Do you have any insights on how to spot a potential deal/ property to invest in?
Thank you! Yes, an important aspect of our program is to teach students how to find great deals. We've achieved amazing results with our students. A few of our students have already completed their first deals and made 6-figure profits. Check out www.transformflipperacademy.com/ if you are interested in learning more.
@angel1111. How are you since your last post? If you ever need help with funding your transactions, feel free to reach out. I would love to help anyway that I can.
@OctaviaBoesWifey, How have things been going since your last post? I'm looking for someone needing my help. I am a transaction coordinator and would love to help you in any way I can including funding your transactions.
You forgot to mention that most hard money loans are greater than 11% interest (with a good credit score). That's per month. On a $200,000 loan, you are paying just over $1,700 a month IN INTEREST. This has to be put TOWARDS your operational costs. Why? A, because it eats into your profits, B, because you legally can't resell a home within 3 months in most states in the US, and C, because in just 3 months, you will have to pay out of pocket ~$5,200. This is profit that DOES NOT make the property worth more money. If you buy a house with hard money with the intent to wholesale it (birddogging, which is illegal in most states), your investor better not find out about it, because they almost NEVER approve of such a thing. You also need to go to a lender with a full plan. They want to know where the house is, the condition it is in, they usually want a full quote on rehabing the property, how you are purchasing (IE at auction, with a realtor, cash buy direct from seller, etc.), and they will want to know how you plan on paying for your costs during the time it is in your care, usually up to 6 months, because realistically, you will not sell the house right away at the 3 month mark. A lot of these videos on jewtube do not tell you the truth, or leave out a lot of details that keep the nail in the coffin for a lot of interested people. The truth is, the easiest way to get into a house is to have 25% on an investor's loan. Not a hard money loan. Not a personal mortgage. On a $200,000 house, you will need $50,000 + fees and expenses. This does not include any rehab. Most investor loans will not be approved of if you are buying and flipping. They are with the intent of leasing out the property after buying. If you tell a bank you want that money for auction, they will laugh you out the door. Do your homework. You want to get into real estate? You need cash. Cold hard cash. And that's the cold hard truth. Get a 2nd job, save every penny you can, stop buying the newest jewphone, and just cancel any bill you can live without (TV, Internet, Netflix, etc.). You can save $50k with a good effort in just 2 years if you try. Two of you could save that in 1 year. Take your time, don't rush into it, that costs money and you will fail. Just be patient and study your local laws and work on saving. By the time you are financially able to afford the entry fees into Real Estate, you will have more knowledge to do it correctly.
Yes! Thanks for your interest. I just launched my coaching program, Transform Flipper Academy, to teach you flip houses the right way. If you're still interested, you can apply here: transformflipperacademy.com
Hey!@fernandogomez3372 How are things going now? If you need help with anything including funding your transactions, I can be a resource for you. Reach out anytime!
Thanks for your interest. I actually just launched my coaching program, Transform Flipper Academy, to teach you to flip houses the right way. If you're still interested, apply here: transformflipperacademy.com
Yes! I just launched my coaching program, Transform Flipper Academy, to teach you to flip houses the right way. If you're interested, apply here: transformflipperacademy.com
Please create a video series on hard money lenders and their reviews for flipping houses. Please share their contact number if you worked with someone .
We help business entrepreneurs get Capital funding. Weve helped a lot of investors to fill in the gap of funding. We can usually get them a certain amount with no interest within the first 6 to 12 months. We also offer loans for those who are more experienced. Let's set up a time to chat some more, we can work together to help . Thank you
I got a HELOC at the end of last year from Comerica. Some banks are stricter with lending, but you may be able to find smaller banks that are open to it.
My book, Flipping Houses QuickStart Guide, is available on Amazon (amazon.com/dp/1636100309/?tag...)! As a house flipper of 5 years, I've flipped almost 50 houses with a six-figure profit on average. I'm so excited to share with you all the knowledge and experiences I've gained so far. I hope to help you get out of the rat race and achieve financial freedom like I did.
~~~~~~~~~~~~~~~~~~~~
Check out the House Flipping for Beginners Playlist:
ua-cam.com/play/PLth4sDjOXnLXR2wUFLQkwd67Wuxx9lKRG.html
Dear Elisa, your videos are amazingly helpful but sometimes related videos are too difficult to find. For example you mentioned the vid on how to find like-minded people but where is it?
Could you kindly list all the videos you mention in the description?
Thanks!
Can you mention where you get your capital from which hard money lender & how you find your houses?
I have renovated two homes, sold one at the highest price in the neighborhood, kept the other one because I loved it so much. Since prices have skyrocketed so much in my area I have been afraid of moving forward in this business and loosing my money. This video and others you have done are so inspiring that I want to try it again and flip more houses. You are so generous at sharing exactly how you do it. Thank you and wish you so much success!
Losing*
My wife and I are looooooving your videos. We are your new fans. We’ve mentioned you to friends already.
You give so much high quality information in every one of your videos. Thank you!
I want to learn so much from you! Thank you for sharing all of these!
Hi. I’m in an industry almost three years. Usually I work on my costumers and making apartment interiors renovations. And i was all the time hesitating to start flip properties because of afraiding to loose! ...but when I saw your video you really inspired me to take a look from another side on it ! For what I’m really thankful !
How is your progress? Any tips
Thanks that’s very used and very detailed. I live in Australia so things will be a little different but I think the concepts will be the same.
Amazing! Thank you thank you for all this information!!
Your video was very well done. I really appreciate this. Thank you
You are so inspiring !!
Getting started is SO HARD! nobody wants to share insight and it sucks😥😥
Question.? How do you know what's a good deal on a house is.? Second Question.? How do you know what the to cost of rehabilitation on a house would even cost.? Thank you
@@XxStUd8o8xX things I wanna know myself
Same here bro…
Chatgpt
I’m flipping my first home this year! 🤞🏽👏🏽
Wow im watching your videos and i have to tell you your content and paste and volume is perfect
Great video. Thank you so much
Hi Elisa, could you please make a video about how you choose your interior and exterior elements? do you work with an interior designer or do you choose all of the changes for your flips?
Thank you so much for your helpful information in your videos. I appreciate all of your hard work on your UA-cam channel and you are such an inspiration to me and inspire me to work towards my dream of becoming a house flipper. If you made a Real Estate course online I would totally take it! Thanks again. -Jessica Moss
Hi Jessica! Yes, it's on my list. No, I design my own flips because I love that aspect of the business. I'm so happy to hear that you find my content helpful. I hope to continue bringing value to you!
Hi Elisa!
Love your videos
..Thanks for making them for us.
I have a question Can you share who is your Hard money lender? 🙏 Thank you!
Thank you so much!🥂
Funny I ran into this video! I just learned about HELOC and all of the financing methods lol
Ha! Now you can apply what you've learned. Hope it was helpful!
Do you have a template on list of expenses to expect throughout the flipping process?
Love your videos! I just started to get interested in the restate industry and your videos are very helpful! Keep it up!
So happy to hear!
Wow, this is my first video of yours and it actually gave me hope. Thank you for sharing that information. You are a inspiration to us all. God Bless you for all you do.
Thanks for this
Thanks for sharing❤
Hey! Question about the financing when using a hard money loan. How does repayment work? Is it in the form of a monthly payment similar to conventional loans?
Thank you Elisa for offering us the Insider Tricks of the Trade......I'll soon jump into this, as I'm fond of Real Estate and Great Homes 👍👏👍
Glad to hear that you are ready to jump in! Real estate is the best way to accumulate wealth and home remodeling is so much fun!
@@TransformRealEstate Lol & best wishes 💙❤
Love to see another female doing this! Subscribed 👍✅
I live in the bay are and would love to shadow you on one entire house flipping process from start to finish. I also want to get started on house flipping as a women.
Thank you Elisa for another value packed video!! 🤩 Looking forward to your next one!!
Thank you Shirley! What content would you be interested in next?
Transform Real Estate Sure! I would love to learn how you tell if a deal is a good deal, the process you run to a determine a house is undervalued. Thank you!
@@muahaha27 That's a great idea! Evaluating deals is a key step in a successful flip. I'll work on it :)
@@TransformRealEstate i live in Reno NV… I cant find house here…Can you help me ?
great info
awesome video!
thank you!
great to know all the information you have put up. I really enjoy your video. I own a house in NY which I stay with my family and have a full-time job I would like to do flip house business and have more questions to ask if you kindly help me. I don't have much liquid cash to start with and have equity on the house. please let me know what to do. thanks,
Did you start a LLC or S Corp in California before you start flipping house/real estate investing?
Can you please explain how you manage your taxes? Is there a way to pay less taxes on flipping?
Wow it's great to see a boss girl 💪 Not to many in his industry!
I don't know what hole you live in because this industry is full of women. Me included.
@@prosperityqueen6588 Fr 😂 They’re probably going off stereotypes.
Not too many. You’re right!
This is great ! Can u share what your previous professional job was before real estate ?
Hello!
I ran into your videos today. I recently graduated and received my associates of applied science in business. I want to get into real estate and flip houses. What is the process to beginning this journey?
good content 👍 looking forward to more videos
Thanks! What content would you like to see on my channel next?
Love this channel
Thank you! So glad to hear that!
Hi .. I’ve always wondered how to do pay back hard money lender loan? Can you still get one if you want to tent out the house? Or do you have to sell to pay back? Is it hard for beginners in Dallas?
how did you first find your contractor to help with your flips and what characteristics do you look for to understand that they're a trustworthy and good general contractor?
How do you cover monthly cost before the project is complete and you have received your profit to pay out debt?
Hi Elisa, thank you for. Your sharing. I am starting out in the bay area too. May I know where did you get your HELOC? I heard that some banks dont do HELOC anymore because of the pandemic
Hi Karena, I use Comerica. They have good rates and they are still doing HELOC. Good luck!
Thank you
Thank you for you information beautiful
Thanks for the great info!
My pleasure! Glad you found it helpful!
You guys can Build Elisa Real Estate to build Billion dollar Business.
I'm Handyman Louis I can help with Team.
Nice work Elisa. I would like to hear more about your experience on house remodel projects before you flip your first house.
Hi Zhang, do you mean remodeling my 1st home and rental before I became a house flipper? Anything specifically you'd like to know?
@@TransformRealEstate Thanks for your reply Elisa. Yes. I want to hear more about your journey from small cosmetic update to major updates like adding extension to a house and how does that process help you build confidence of handling a big house flipping project especially with a full time job. I assume the flipping process of your first house(the victorian style one) is more complicated than remodeling your own house.
@@zhangcheng1471 Got it. Yeah, the remodeling experience with my own home and rental did help me build the confidence and the capital. I'll think about how to make a prequel :)
Nice!!!
Thanks! Hope it helps 😊
Smart girl❤️. They are few
Great Channel and really good information. Thank you!
Can you also do this even if you are not a realtor? Although I know a realtor
Not saying you don't address it, but I did not see holding costs mentioned as a separate entity. Holding costs is an incentive to sell quickly.
wait so you are saying After you get the hard Money lending go after private money lending as well to complete the funding
Hi i want to know about those small details i need to know before Flipping
Nice video
How do you find the ARV ?
Such a useful channel. Going for my first house flip this year.
Thanks! Great to hear that you are getting started! Good luck!!!
Thank you for your knowledge very helpful 😊
i am a fellow asian hustle network member and i am an upcoming real estate in southern California.looking for some tips and tricks to become a R.E investor
Hi Vu, nice to meet you! I hope my channel provides you the information you need. Let me know if you'd like to see anything else.
Hi I absolutely love your video and about to start looking for my first flip deal, I did however wanted to know more about how you talk to your investors and how you calculate the percentage you give for return in investment?
Hi there, thanks! The conversation you have with investors depends on their questions and % you offer depends on the deal. If the deal has high margin, then you offer a smaller %, vice versa.
I love your channel so much! it's very inspiring so thank you! I was wondering, do you know or have resources about the legality behind angel investors?
In other words, I don't have money to begin this journey of buying and flipping houses but I have some friends who are willing to go in with me on a purchase. So, do you know the laws or rules for angel investors to invest in me? (I want to help them feel comfortable investing in me)
Hi everyone I'm just curious if you use heloc for downpayment how would you finance the mortgage? Thank you much appreciated
@detailedbymarvs5817 How are you since your last post? Did you get your questions answered? I can be a resource for you or even funds your transactions if you need it. Feel free to reach out!
Do you buy these properties under you name or a company’s name
I'm from italy and here is really diffucult to have so much credits several times
How do I get investors please?
Do you have any tutorial about it?
What if I don’t have a credit score I’m 20 yrs old just getting started on building credit
How do you do good thanks from Iowa
hello there, how much to start to invest with you in flip and fix? i would love to make my money work for me and profit good money. thanks!
Hey quick question why would the private money lender lend to you if the hard money lender is the one who will have a lien on the property if the deal goes bad
@niaanae7559, How are you since your last post? Did you get your questions answered? I can be a resource for you or even funds your transactions if you need it. Feel free to reach out!
She should start on line Classes she can be next Martha Stewart.
I’m 15 I’m watching videos how to do
This the only thing I’m confused is the credit and loans those confuse me
Hi! Kudos to you for starting so early! I explained hard money loans in this video: ua-cam.com/video/mfDvIp8OhPo/v-deo.html
Transform Real Estate thank you
Wow, surprised to hear that you have a hard money lender who can close in 1 week! I am just getting started with house flipping, but most of the lenders I have talked to so far require at least 3 weeks total until closing, due to the need for their own inspection. Do you think it's because of your existing relationship with a lender that you can close so quickly?
Where are you located? I've worked with 3 lenders so far, and all of them were able to close within a week - that's kind of a given in the lending world here. Some of them do inspections too, but can still close on time.
@@TransformRealEstate I am looking to start flipping in Indianapolis, IN and live in SC. I've talked to 4 HM lenders so far. The shortest time frame from sending them a deal for evaluation until closing has been 15 business days, so 3 weeks. Maybe being remote has something to do with it? (But it shouldn't.)
I was thinking the same thing lol. One of the greatest HML I know on the east coast closes in 3days, maybe 25. Good for you👏🏽
Anyone can help in the UK? As. have had a few lenders but not sure if they are trustworthy and legit? How can we find out? Thnaks
Hi Elisa. I've been wanting to flip houses since we came to the US but I dont know where to start. Can you help me please
she literally told you in this video.
How are you able to get a contract under agreement for say $5000 from the seller if you have no money. Dont they want to see what type of income you have to be Purchasing their house also if the house is beat up how do you pay for repairs and renovation to actually make it seem that that house can be marketable on Facebook or wherever you decide to market that house? And what if you can’t sell the house within the time ?
You don’t remodel, the buyer you find does... but that’s the whole point. They don’t have to see your income, because your not the one buying. You’re the middling the sale. So your contract will read once they’ve signed that payment will be in made in 30 days of agreement
How do you know the actually sale price before you get the loan for rehab ?
You won't know the actual sale price until you flip and resell, but you can estimate the value. I'm working on a video on estimating a home's value. Stay tuned!
Could you please share the Deal Analyzer that you use? I would also like to email you about more information asking for help and being my mentor?
Yes! Thanks for your interest. I just launched my coaching program, Transform Flipper Academy, to teach you to flip houses the right way. If you're still interested, apply here: transformflipperacademy.com
i saw your other video talking about sharing your profit with your mentor - very impressive.
May I know how much in general? also, how many point higher you offer to friends and family for borrowing their money. is it 100% trust basis?
Thank you very much. Is there a way to connect with you in person? Hope i did not ask too much
How much profit you share really depends on how much each party is putting into the deal. There's no right or wrong. I shared 20% with my mentor. I'm working on a video where I'll share more details on that. In the Bay Area, private money lenders usually charge 10% and 3 points. They'll have a promissory note and a deed of trust where they can use to collect the money if needed. Good luck!
My goodness, hard money offers 90% LTV there? In Canada our standard is 75%. I guess that’s because markets vastly differ.
Yes, markets do differ. Even in the US, money is a lot cheaper and more accessible in CA than most other states.
Heloc ?
so the profit from your flips can be used to do your future flips , right?
Yes!
@@TransformRealEstate i always see ppl saying they still use a funder even after 100 flips. i dont get it.
0:36
4:39
Does anyone know if you need any sort of degree or licenses to do this?
No, you don’t need any degree or license to flip houses.
Honestly no money no game. When issues come, and you have to pay back the debt, it’s very stressful
Awesome videos; I'm Very much interested in investing in real estate and would really like to know more about this, as I have been doing my research for a while now. I'm in Canada, and the market is risky now, but there is a lot of potential, too. Do you have any insights on how to spot a potential deal/ property to invest in?
Thank you! Yes, an important aspect of our program is to teach students how to find great deals. We've achieved amazing results with our students. A few of our students have already completed their first deals and made 6-figure profits. Check out www.transformflipperacademy.com/ if you are interested in learning more.
@@TransformRealEstate i just registered, thanks!
Please please show me but have no good credit can I use buissness credit?
@angel1111. How are you since your last post? If you ever need help with funding your transactions, feel free to reach out. I would love to help anyway that I can.
How do you find a legit hard money lender?
@OctaviaBoesWifey, How have things been going since your last post? I'm looking for someone needing my help. I am a transaction coordinator and would love to help you in any way I can including funding your transactions.
So we need to atleast 10% downpayment right? If I buy 300k house 30k savings right?
Go find out idiot
@@airjordanatthis 😅
When you say the key is to FIND A REALLY GOOD DEAL, what you meant about that? Is it deal with property or HML?
You forgot to mention that most hard money loans are greater than 11% interest (with a good credit score). That's per month. On a $200,000 loan, you are paying just over $1,700 a month IN INTEREST. This has to be put TOWARDS your operational costs. Why? A, because it eats into your profits, B, because you legally can't resell a home within 3 months in most states in the US, and C, because in just 3 months, you will have to pay out of pocket ~$5,200. This is profit that DOES NOT make the property worth more money.
If you buy a house with hard money with the intent to wholesale it (birddogging, which is illegal in most states), your investor better not find out about it, because they almost NEVER approve of such a thing. You also need to go to a lender with a full plan. They want to know where the house is, the condition it is in, they usually want a full quote on rehabing the property, how you are purchasing (IE at auction, with a realtor, cash buy direct from seller, etc.), and they will want to know how you plan on paying for your costs during the time it is in your care, usually up to 6 months, because realistically, you will not sell the house right away at the 3 month mark.
A lot of these videos on jewtube do not tell you the truth, or leave out a lot of details that keep the nail in the coffin for a lot of interested people. The truth is, the easiest way to get into a house is to have 25% on an investor's loan. Not a hard money loan. Not a personal mortgage. On a $200,000 house, you will need $50,000 + fees and expenses. This does not include any rehab. Most investor loans will not be approved of if you are buying and flipping. They are with the intent of leasing out the property after buying. If you tell a bank you want that money for auction, they will laugh you out the door.
Do your homework. You want to get into real estate? You need cash. Cold hard cash. And that's the cold hard truth. Get a 2nd job, save every penny you can, stop buying the newest jewphone, and just cancel any bill you can live without (TV, Internet, Netflix, etc.). You can save $50k with a good effort in just 2 years if you try. Two of you could save that in 1 year. Take your time, don't rush into it, that costs money and you will fail. Just be patient and study your local laws and work on saving. By the time you are financially able to afford the entry fees into Real Estate, you will have more knowledge to do it correctly.
Internet is a necessity lol
Please teach me im in Philadelphia
Yes! Thanks for your interest. I just launched my coaching program, Transform Flipper Academy, to teach you flip houses the right way. If you're still interested, you can apply here: transformflipperacademy.com
How were you able to pay 5k to buy and 5k to sell?
Hey!@fernandogomez3372 How are things going now? If you need help with anything including funding your transactions, I can be a resource for you. Reach out anytime!
Who is your mentor can you refer him or her to me ?
Thanks for your interest. I actually just launched my coaching program, Transform Flipper Academy, to teach you to flip houses the right way. If you're still interested, apply here: transformflipperacademy.com
i think it is too hard to borrow money from family and friends
i’m in the bay are can you be my mentor
Yes! I just launched my coaching program, Transform Flipper Academy, to teach you to flip houses the right way. If you're interested, apply here: transformflipperacademy.com
Please create a video series on hard money lenders and their reviews for flipping houses. Please share their contact number if you worked with someone .
Here you go: ua-cam.com/video/mfDvIp8OhPo/v-deo.html
We help business entrepreneurs get Capital funding. Weve helped a lot of investors to fill in the gap of funding. We can usually get them a certain amount with no interest within the first 6 to 12 months. We also offer loans for those who are more experienced. Let's set up a time to chat some more, we can work together to help . Thank you
Name? What is your website
Can i flip house when im 14
I think you’ll need parental supervision in order to own properties, but it’s never too early to start educating yourself!
@@TransformRealEstate omg tnx for responde and thank you
Nobody is doing HELOC’s right now due to pandemic risky lending.
I got a HELOC at the end of last year from Comerica. Some banks are stricter with lending, but you may be able to find smaller banks that are open to it.
Show...don't tell.
HELP HOMELESS