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Some lenders say they will not lend on a fix and flip loan if I have not completed a flip in the last 24 months.
I have great credit, money in the bank, and should meet all of the general requirements except “experience.”
Beau, are there lenders out there that will fund newbies on fix and flip projects?
All the best,
Amy
Timestamps
[00:24] Are there lenders that will fund fix and flip projects for newbies?
[01:31] Beau’s advice to newbies to be funded by lenders on fix and flips
[01:03] Keeping your gross loan amount under 70 to 75 percent
[01:10] Having good comparable sales handy is another good tip
[02:10] Fix and flip masterclass for beginners
[02:20] Watch this video https://youtu.be/wJYLFy_VP74 to learn all about finding good house to flip, how to fund them, and then how to follow through and can your fix & flip projects finished
[02:35] Doing non-structural things is easier than a big construction project