Читать книгу Flipping Houses For Dummies онлайн

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 Confidence is how strongly you and the lender believe that you can deliver what you promise. Pitching a solid plan can build the lender’s confidence. How you portray your project either gives the lender confidence in your abilities or sends the lender running to the hills.

 Cash flow is your current monthly income minus your monthly expenses — the amount of money you have free each month to take on your project. Consistently having significantly more monthly income than monthly expenses shows lenders that you’re a competent money manager and can afford loan payments of a certain amount.

Before approaching a prospective lender, do your homework and draw up a business plan showing that you know what you’re doing. Here are a few ideas on how to proceed:

 Show the prospective lender a sample of a property that someone else recently flipped in the area — for example, a property that the person bought for $80,000 on August 8 and sold for $146,000 on November 16. Persuade the lender, through your knowledge and enthusiasm, that you can do the same.