William Raveis R.e. & Home Services
Sable Homes Metro-West, Boston And Cape Cod, William Raveis R.e. & Home ServicesPhone: (508) 733-8935
Email: [email protected]

3 Ways to Flip Houses On a Budget

by Sable Homes Metro-West, Boston And Cape Cod 04/03/2022

Like any real estate transaction, flipping a home involves a lot of separate costs. While flipping a house can have an excellent return on investment, it can also cost quite a bit to get the process started. However, there are ways to flip houses with very little upfront cash. Here are the best ways to flip on a tight budget:

Private Lenders

Private loans come with a variety of advantages because they don’t work with banks or government institutions. This means that a private lender can give you your money much quicker and without the same regulatory obstacles as traditional lenders. However, they also make their own rules, which can benefit you or hinder you. As long as you’re clear about any contract details and expectations, they can be a good option for funding a flip.

Hard Money Lenders

Hard money lenders work with entities that specialize in lending money but offer shorter term loans than traditional sources. Hard money loans are excellent options for flipping houses because they allow for flexibility in timelines. However, like private lenders, hard money lenders have their own unique rules and guidelines, so shopping around for the best fit is ideal.

Crowdfunding

Crowdfunding is a more free-form type of investment strategy involving multiple sources. Each source would contribute a part of the total loan amount. There are many sites and companies dedicated to helping you set up your own crowdfunding initiative and when paired with promotion and marketing strategies, it can be an extremely convenient way to raise the funds for a flip.

These are just a few ways to get the funding you need while sticking to a small budget. All offer a great opportunity for financing your flipping project with a low initial investment up front. Research and budget carefully to find the best fit for your situation.

About the Author
Author

Sable Homes Metro-West, Boston And Cape Cod

Nina Sable and Claudia Shepherd are licensed top-producing real estate agents specializing in the sale of residential properties across Massachusetts, including Greater Boston and Cape Cod. Their expertise spans a wide range, from luxury homes, and condos to townhomes, land, and multi-family units. In addition specialize in helping homeowners sell, "AS IS" condition homes. Helping them to find buyers who will remodel and breathe life back into these beautiful properties making them available to first-time home buyers.