Should I use a broker in my1ST transaction verse hml if I choose to rehab property? what kind of broker and where do you find them?What is the difference?In Ga.
What are you trying to accomplish?
I have my first wholesale contract to flip however I’m thinking if I don’t find a buyer, I can try to get financing and rehab myself. I’m not sure which will be better for getting financing dealing with a broker or hml.
It all depends on the parameters. Long term financing through a lender/broker or shorter term/higher interest through a HML.
Does the property require extensive renovations?
Yes, I’m thinking $40,000 on the high end. The house needs sheetrock hung which comes with purchase,paint carpet,electrical ,plumbing,heat/ac,complete kitchen,light fixtures. bathrooms. I have contract for $12,000. arv 95,000 estimate repairs $40,000. Keep for rental
Broker comes to mind. Especially since it would be your first. Then again, you must consider the time you plan on holding and the time for repair.
Talk to a broker and see what they can offer you. You won’t know until you have tried. If you don’t like it, go HML.