The Right Way for Funding in Real Estate Investments

FundsHey my name is Ben. I am just your average guy who wanted to get into flipping houses and had no money. I am like many people who saw shows like “Flip or Flop,” “Flip this House,” “Fixer Upper” and many more shows on HGTV where average people flip houses and make bookoo bucks off of it.

My wife and I have always had an interest in real estate investing but never knew how to get into it because we didn’t have a ton of money sitting around to be used for it. We just bought our first family home and had next to no equity in the house. None of our friends, family, distant relatives, or random contacts had a ton of money sitting around either to try and get them to invest in us. It seemed like our only option was high interest rate loans through a hard money lender.

Then randomly one day I found a company that provides lines of credit up to about $250,000 simply based on my credit score. I called them to find out what the catch was. I assumed it would be that they get part of the sale when we sell our houses or some sort of weird deal. I was amazed to find out it is a small flat fee that actually comes out of the line of credit, which means I don’t pay for it directly up front.

I couldn’t believe what I was hearing and thought it sounded way too good to be true and thought it was a scam. My wife and I did a lot of research on them for about a week and found out that they were a 100% legitimate company based out of Utah that has a long track record of helping people get funding for investing in real estate.

Click Here to Get FREE Funding for Flipping

We signed the deal with them to have them get lines of credit for us with the 100+ banks they have a relationship with. In the end we obtained $120,000 in lines of credit that were liquidable (turn from credit into cash) to turn into cash with a 0% APR for about 12 months. Which literally meant we had over $100,000 we could use for real estate investing without any worry of interest on that $100k. All that was required is that the minimum monthly payment be made on it.

Because we were serious in flipping houses and not using the money for other things, the company directed us to another company they work with often who actually buys, fixes and resells houses for you. Again it is a flat fee up front but they do everything, all the work, as well as still on average make you an average net of $20,000 – $35,000 per house. Again it sounded too good to be true, but before we knew it we bought our first house through them. They fixed and got it on the market in about 3 months.

I’ll include pictures and links in another post of the actual house and process which you can check out HERE. In the end it was 110% absolutely worth it and it got us started on our real estate investing path. The point is to flip 3 or 4 houses a year with just the money obtained in the lines of credit which would make a total net of about $100,000 and then reinvest all of that money into getting 2 houses going at one time which then would make us about $200,000 a year and so on.

If you’re serious about flipping houses and want or need money to do so, please contact me so I can give you the info on how to do it and find out how much funding you can get with ZERO obligation.

Click Here and Find Out How Much You Can Get for FREE

Cash for houses

Flipping Houses

Flipping houses is an incredible way to make huge profits in a relatively short amount of time. I’m sure you have seen the shows, “Flip This House”, “Flip That House” or even “Property Ladder”. These shows all chronicle house flippers buying distressed houses, fixing them up and then reselling them and making insane profits. These shows tend to only show the most dramatic parts of the house flipping business and I can understand it. It is television. Maybe some of the other details, like how to find these deals, how to determine what constitutes a deal and what are the costs they are not telling us about, are not very exciting, but these are the things you really must know before jumping into the real estate investing game.

In this article, I am going to fill in the gaps and show you the things you should know if you really want to learn how to flip houses.

How To Find Cheap Houses That Are Perfect For Flipping

There are a myriad of ways to find houses that would make for a perfect flip. The important thing to understand is that you need to buy a house at a very deep discount. Think about who would need to sell their house and would be willing to sell at such a discount. The motivation of the seller is what we are really interested in. The sellers that are motivated to sell are the ones that are facing foreclosure, behind on property tax payments, going through divorce, inherited a property, people that have a house that needs too many repairs, someone that is buying another house and can not afford two houses, a landlord that is sick of tenants, and the list goes on and on.

Click Here to Get FREE Funding for Flipping

Many of the reasons for motivation can be found at your local county courthouse. Become familiar with the courthouse and where to find this information. Many counties now have their data online. Search the public records and find people with a motivation to sell their property. Send them a letter telling them that you are a local investor and you are interested in buying their property As-Is.

You can also drive neighborhoods and look for vacant houses. These are usually easy to spot as the yard is usually overgrown, there may be a broken window, there might be a lot of trash on the front porch, there might be old mail that has piled up, etc. Write down the addresses to these houses and then get online and search your county’s tax assessor website to see where the tax bill is being sent. Send them a letter stating that you would like to buy their vacant house.

What Constitutes a Great House Flip Deal

You need to determine whether it is a good deal for a flip once you have found a motivated seller that wants to sell their property. You will need to know what the house will sell for. Get in touch with a local real estate agent and inform them that you will be buying and selling houses and would like to build a relationship with them. If they would mind running comparables for the property, ask. They will be able to tell you what they think it should sell for fixed up.

Most real estate investors want to buy houses at 70% of resale value, minus repair costs. You take 70% of the figure you were quoted by the Realtor and subtract the costs to get the house in sellable condition. This will be your maximum allowable offer. Do not offer more than this. You can determine the repair costs by taking several contractors by the house and having them give you bids. Most contractors will do this for free.

The 70% of resale value covers the costs you will probably incur while holding and selling the house. These are usually things like interest payments on any loans, utilities, insurance payments, Realtor’s commissions when selling, closing costs assistance when selling, property taxes and your profit. That last one is pretty important.

Click Here and Find Out How Much You Can Get for FREE

Cash for houses