What are the keys to success when it comes to house flipping? It’s been our experience that the most successful house flippers have a few things in common.
Pay Attention to the Numbers
First and foremost, the numbers matter. Whether it is the purchase price of the house, the estimated cost of repairs or the after repair value (ARV), the numbers need to make sense. That is, when all is said and done, is there enough profit to make the entire enterprise worth your considerable time and effort?
Stay on Schedule
Part of making the numbers work involves having a plan and sticking to it. Nothing breaks a budget quicker than veering off schedule. To keep things on track, we suggest preparing a detailed scope of work (see our free SOW template) and then mapping out the milestones. Make sure your general contractor is on board and aware of the relevant dates, right from the get go.
Find a Financing Partner Committed to Your Success
As your project perks along, you will want to find a lender who has your back. Navigator Private Capital has fix and flip loan programs designed to fit your needs, whether you are a first time flipper or a seasoned pro.
Platinum Partners Program
If you’ve had some success with house flipping already, our newly minted Platinum Partners program may be just what you’re looking for. Designed for flippers with at least 3 project under their belts over the past two years, solid credit, and some cash in the bank, this program offers our most competitive rates and fully negotiable terms. We are ready to make loans at interest only rates as low as 9.99% APR.
For more details about the Platinum Partners program and to register, check out our website. We are always happy to chat with potential borrowers so feel free to reach out at 443.603.0193 or email us at email@example.com. With our customer focused approach and local expertise, we offer unmatched value to our borrowers, making NavCap the only private lending partner you will ever need.