Hello my name is Brian L. and I am a State certified Building Contractor in Florida and have been re-habing foreclosure homes in Florida directly for banks but now want to start buying and flipping these homes for myself instead of working for wages. I have a friend who is a Real Estate agent who I kind of work hand in hand with on these properties and we want to do this together. He is also a General Contractor. I think we would have a tremendous advantage in this is we both know all aspects of getting these homes flipped and back on the market but not making the profit. Our only problem is where to start and how to find the money. I know we can find private lenders and it is expensive money but still don’t know any yet. No relatives are of help. Questions as follows,
- How and where to find private lenders
- How do we start and put these homes in a trust?
- Is it possible to get a home from whom ever owns it (Bank, Home Owner etc… and then not put the money up front or close on loan when renovation is complete and if a bank, how do we ask this question and what is it called.
Again, I am just starting out in the business of flipping at this even at 50 yrs old and have too many questions to post on here. I know the aspects of carrying cost and any construction cost or issues. They are not of concern to me. I just need as much info as I can get and have been reading a lot of post on here and find them very helpful so thanks in advance.
I have another question. I have two properties that I know I could buy and either flip or hold and rent right now but need to know where to start and how to get hands on cash or figure out how to do it with no money until closing. One of these homes in a single family home that has the foreclosure posting in window but has no Realtor sign or is not on Zillow. The other is a duplex that my Realtor partner did the BPO on but has not been listed yet. Both would be no brainers I believe and would love to have some of that “Hand holding” I have been reading about on here. I hope someone still reads these as I see some or most of the posts are older By the way, these properties require repairs but are minimal and would be easy to get done quick. The properties are in St. Cloud, Florida. Anybody can contact me when ever if they so choose. My name is Brian Thanks for your time.
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What happened to my last post? Do you not want anyone to know you want to charge the $96.00 a month to answer these questions? Why don’t you just delete the entire thread.
[QUOTE=NanetteSantillanes;893075]You can easily find private lenders by having a search in Internet. There are many lenders who are available over internet, you must find the by searching local lenders in your area.[/QUOTE]
I do agree with your statement that there are many lenders who are available over internet, all depends upon the good local search in your area.
You have taken a good decision. Try searching for lenders on the internet and be careful while taking any decision. Read all the terms carefully while choosing a lender.