Been binge-watching house flipping shows lately (yeah, guilty pleasure, lol) and now I'm seriously considering giving it a shot myself. But the whole financing part seems kinda daunting. Curious how most of you guys handle funding your flips—do you prefer private lenders, banks, or maybe hard money loans? Or maybe you've got some secret sauce method I haven't even heard of yet... Drop your vote below or share your experiences, I'm all ears.
"Been binge-watching house flipping shows lately (yeah, guilty pleasure, lol) and now I'm seriously considering giving it a shot myself."
Haha, those shows definitely make flipping look way easier than it actually is. Financing-wise, banks and hard money lenders are popular, but honestly, I'd suggest starting smaller and simpler at first. Maybe try a live-in flip? I've seen plenty of people dive straight into big projects with hard money loans, and the high-interest rates can seriously eat into your profits if you're not careful.
A lot of folks underestimate the timeline and hidden costs (trust me, there are always unexpected expenses...), so having lower monthly payments or even using a HELOC on your own home might be a safer bet initially. Once you've got a flip or two under your belt and know your numbers inside-out, then you can confidently jump into bigger deals with private lenders or hard money. Just my two cents from seeing clients learn the hard way.
