Come inside a real estate property flip to see the condition of the house before we buy it. We're using Private Money to buy this house which means there was no need for ; credit, tax returns, bank statements, or even a bank application to borrow this money. We work with ordinary people that loan us money to finance our real estate deals. You'll see exactly how we communicate w/ our lenders and where the money is coming from. We'll walk through this house and go over the numbers regarding what it's worth, what we're paying for it, how much is the reno, what's the closing costs and cost to sell along w/ our PROFIT. Remember, you don't get rich flipping a few houses & the name of the game is volume & SPEED. So make sure you're smart w/ the money you earn from flips.
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00:00- Intro 1:40 - I'm driving from Suffolk to Chesapeake Virginia where this deal is located 4:05 - The first floor of this house is great room, kitchen and 1/2 bath 5:30 - The rear exterior of the property and the surrounding houses 6:13 - Let's look at the surrounding houses 7:10 - The repairs on the 1st floor are flooring, keep the cabinets, new countertop & paint 8:45 - Upstairs has 3 bedrooms & 2 bathrooms, the reno will be new vanities, flooring & paint 11:45 - This how we borrow money from Private Lenders to buy houses 13:45 - Let's go over the numbers on this flip, the ARV After Repair Value is $345k, the reno is $25k, cost to sell and hard costs & profit 17:10 - How to use Flat Fee Broker to save 3% realtor fees
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By: kris haskins Title: How to get private money for real estate investing Sourced From: www.youtube.com/watch?v=gV4SBW657yo
