Want To Buy & Flip A Home? Vol 1

Many of our customers ask about flipping homes.  To them it seems like everyone's doing it.  Well, lots of people are.  But remember, it's a business.  If you're not used to dealing with contractors and suppliers it can be challenging.  I've flipped my share of homes and am familiar with many of the ups and downs.  After deciding if you have the temperament and some financial cushion in case things don't go exactly as planned, here are the first things to know.  It is difficult to find the right property.  And that is the single most important thing.  Unless you fall into it, there is lots of competition for good homes to "Flip".  The next thing is the financing.  Here's the good news, if you find the right home and have a bit of cash, you can be like many, if not most, flippers and use asset based lending to finance the project.  Our commercial mortgage dept may provide you with financing or can direct you on the right path.  This is a long category so we will continue with "what to look for in a flip" and more in vol 2