Flipping Houses For Dummies
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Flipping houses is an expensive endeavor. You need money to purchase the property, renovate it, pay the bills for the duration of the project, and sell the property. Where will you find the money to finance your house flips? Here are a few sources to consider::
  • Your own savings
  • Home equity loan or line of credit (on your current home)
  • Bank loan (you'll need cash for a down payment)
  • Personal loans (from friends or family members)
  • Government loan (if you're buying from a government program)
  • Hard money loans (from investors)

After you purchase a property, you may be able to finance the repairs and renovations by refinancing to pull equity out of the property.

About This Article

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About the book authors:

Ralph R. Roberts has been investing in foreclosed properties for over 30 years. He knows every step of the process, from scouting properties to cashing out after the sale, from helping distressed homeowners keep their homes to buying those homes when the owners can no longer afford them. He also has assisted homeowners who have been taken advantage of by unscrupulous investors.

Kenneth W. Boyd has 30 years of experience in accounting and financial services. He is a four-time Dummies book author, a blogger, and a video host on accounting and finance topics.

Ralph R. Roberts has been investing in foreclosed properties for over 30 years. He knows every step of the process, from scouting properties to cashing out after the sale, from helping distressed homeowners keep their homes to buying those homes when the owners can no longer afford them. He also has assisted homeowners who have been taken advantage of by unscrupulous investors.

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