Flipping a home requires knowledge, research, and arguably most importantly, teamwork. Nobody can flip a home on their own, and if they attempt to, it will flop in no time. It is important to surround yourself with people you trust will get the job done correctly and efficiently. There are several key members to a home flipping team that you cannot do without.
Real Estate Agent
Flipping a home requires a solid plan and a way to execute it. By selecting the right real estate agent, you will have a knowledgeable person by your side throughout the entire process, making sure you find the right home in the right area. The correct agent can analyze the market you are searching and determine whether or not your flip has a high chance of being successful.
For some investors, this is an unnecessary member of a home flipping team, as with more experience comes more knowledge of the immense amounts of paperwork that go into flipping a home. However, if you are just getting into the flipping industry, this is a welcome addition to the process. By hiring a real estate attorney, you will have someone to help explain documents, avoiding possible ugly ramifications that could come down the line by signing documents that you do not fully understand.
The Right Lender
Flipping a home is stressful, but without doing proper research, finding a way to finance it can be even more stressful. There are many types of funding for a fix and flip, and different companies offer different options. Here at Brass, we offer a unique No Doc Fix and Flip loan that cannot be beaten! We do not ask for tax returns, W-2s, paystubs, etc. These loans, along with our Hard Money option, are easier to be approved, and create a much quicker borrowing process.
There are many different people that can help flip a home, but these are the three that are necessary to correctly plan out the process. No two flips are the same, and success on one project is not indicative of success on the next. However, as long as you surround yourself with the right team, your flip has a much higher chance of success.