{"appState":{"pageLoadApiCallsStatus":true},"articleState":{"article":{"headers":{"creationTime":"2016-03-26T13:43:16+00:00","modifiedTime":"2017-03-08T21:37:38+00:00","timestamp":"2022-02-24T17:02:43+00:00"},"data":{"breadcrumbs":[{"name":"Business, Careers, & Money","_links":{"self":"https://dummies-api.dummies.com/v2/categories/34224"},"slug":"business-careers-money","categoryId":34224},{"name":"Careers","_links":{"self":"https://dummies-api.dummies.com/v2/categories/34256"},"slug":"careers","categoryId":34256},{"name":"Real Estate Careers","_links":{"self":"https://dummies-api.dummies.com/v2/categories/34268"},"slug":"real-estate-careers","categoryId":34268},{"name":"Flipping Houses","_links":{"self":"https://dummies-api.dummies.com/v2/categories/34269"},"slug":"flipping-houses","categoryId":34269}],"title":"Financing Your House Flips","strippedTitle":"financing your house flips","slug":"financing-your-house-flips","canonicalUrl":"","seo":{"metaDescription":"","noIndex":0,"noFollow":0},"content":"Flipping houses is an expensive endeavor. 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Financing Your House Flips

By: Ralph R. Roberts and Joseph Kraynak and

Updated: 03-08-2017

From The Book: Flipping Houses For Dummies, 4th Edition

Flipping Houses For Dummies, 4th Edition

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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

This article is from the book:

Flipping Houses For Dummies, 4th Edition ,

About the book authors:

Ralph R. Roberts is a master at flipping houses, earning a profit even in the deeply depressed real estate market in Metro Detroit, Michigan. He is the award-winning author of several books, including Foreclosure Investing For Dummies. Joseph Kraynak is a writer who's contributed to several Dummies books, including Flipping Houses For Dummies, Oceans For Dummies, and Selling on Amazon For Dummies.

This article can be found in the category:

Flipping Houses ,