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Assisting small business owners and commercial real estate investors with the financing needed to accomplish their goals!

Fix and flip financing advice with RCN Capital

Are you a fix and flip investor, or are you considering jumping in? More than 207,000 homes were flipped in 2017, that is the highest number in a decade. Over 138,000 people or companies flipped homes last year, also a record high. These numbers were provided by a recent report from ATTOM Data Solutions. A flip is defined as a property bought and sold in the same 12 month period.

There are many serious items to consider before starting your first flip, finding the right property at the right price, selecting the right contractor after vetting them thoroughly, (learned that lesson the hard way on my girlfriends current first flip as discussed on my instagram @ralphspodcast), double checking every permit needed before starting any work, and finding the best financing partner for your flip or investment rental project.

On episode 16, we are joined by Stephen Ballard, of RCN Capital, (www.rcncapital.com) RCN is a leading, nationwide, fix and flip and investment property lender. On the episode, we discuss the interest rates and costs investors could expect, the process from application to funding, (typically two to three weeks), and the range of projects RCN can finance. Stephen is a very informative guest, and offers advice for both new fix and flip and seasoned investors. Stephen can be reached at 860 479 6399 and at sballard@rcncapital.com. Let him know you heard him on ralphs podcast.

Follow along with a first fix and flip project I am assisting my girlfriend with in Kenosha Wisconsin, both on Instagram and Twitter @ralphspodcast. I have uploaded two videos so far and will add more content as the project moves along. So many lessons have been learned. The project started in August 2017, with a target end date of late October. After the first contractor was fired, and a number of permit delays, she is now about 50% completed. The fix and flip business has a number of rewards, but a number of hours of research and work need to be put in to make sure all proper steps are taken.

I would love to hear your fix and flip stories as well!! Please email me at ralphspodcast@gmail.com, or reach out @ralphspodcast on instagram or twitter. You can also reach me on Facebook at Financially Empowered, via Skype at ralph.russell91, or you can reach me at my office at 312 582 0929.

Coming up on future episodes of Financially Empowered, we will discuss student loan refinancing options, mortgage options for your personal home, and SBA express loans for your small business.

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About the author, Ralph

During my first 20 plus years in the financial industry , I was a investment adviser. With a degree in Radio and TV from Ohio University, I began hosting radio shows focused on investing in 1985, where I would interview fund managers, stock analysts, and CEO's and answer numerous listener questions.
During this time, I was fortunate to host a show for 5 years on one of the top 2 or 3 radio stations in the US as well as appear on local and national television discussing the financial markets.
The past 5 years have been spent assisting small business owners and commercial real estate investors with obtaining the funding they need to accomplish their goals.
During my career, I have learned we all can make the best business/financial decisions possible if we had access to objective insight from experts in the specific topic matter.
The goal of each episode of Your Business Decision is to share this expert insight, assisting the listeners with making the best business/financial decisions possible in the future.

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