​Traditional Mortgage: ​I was able to qualify for a traditional mortgage when I was still working full time (side note- I used my day job to fund my side hustle).  I then had to hold these properties for a minimum of 4 months.  I was able to purchase 3 flips along with my first rental with this type of financing. If you are not able to qualify for a traditional mortgage, the next examples for financing might be for you.  

Private Money: This is one of my favorite ways to finance. I can have little to no money in the deal and bring in family or friends who know my track record and will let me use their money to invest. I then pay them back with interest when the deal sells, if I choose to refinance. With private money, you are able to negotiate your own terms with these lenders, they are usually significantly lower than hard money loans. I have purchased 4 flips and my second rental property with this type of financing. 

Hard Money: Hard money can scare some people because it can be expensive and you usually have to pay the loan back, in full, in under a year (my lender requires the loan to be paid back in 8 months). Your personal rate will largely depend on your experience and credit score. You will have to pay 1-2 "points" upfront (this is 1-2% of the amount borrowed) and then your interest rate can range from 8-18%. I have learned that, yes, although this is an expensive way to get money, it is cheaper than a 50/50 split partnership. I have purchased 2 flips and my third rental with this strategy.

Cash: Although this can take a while to build up, if you are consistently turning your profits into another flip and continuing this process, you will eventually build up enough cash to finance your own deals. Bringing cash to a deal allows you to have a quicker close, avoid lending fees, and investor terms. Whenever possible, I try to fund the rehab with cash.

Partners or Other Investors: Maybe you have the time and knowhow to run the job-site, manage the budgets, do the design and find the deals. There are investors who have money to invest, however they do not have the time to look for the deals and then execute the remodels. This would make for a great partnership. A partnership can look different for every deal depending on what each partner is bringing to the table. This usually results in a profit split. 

When I started investing, the only strategy that I knew was traditional funding. Learning and using different ways to finance deals allow you to have multiple projects at once or possibly larger projects that you would not be able to fund on your own. The type of funding that I structure my deals with now largely depends on how much of my own money I want to use, how risky the deal is, and how many properties I am currently working on at that moment.

I don't have the money, I don't have the time, and I don't know how. 
I am proof that this CAN be done!

Excuse 1: I don't have time. I flipped 2 houses, purchased and renovated a rental and started on my 3rd flip all while working 40+hours a week at a full time retail job. If you want something bad enough, you will find ways to make the time. 

Excuse 2: I don't have money. I do suggest saving enough money for a down payment before you dive right in. I saved for many years before I was able to have enough for my down payment. With that being said, I now know that there are many different ways for you to get money if you do not have the money yourself to start (Private money and hard money are great examples of this.) There are also investors who might be willing to partner with you. They bring the money to the deal where you bring your time and expertise. 

Excuse 3: I don't know how. I didn't either! I knew nothing about real estate or flipping houses when I started. I went to the job site as much as I could and asked questions... a lot of questions! On my third flip, I hired all subcontractors to teach me how to do everything they were doing. I was still working full time so I would work at my job site before and after my full time job. I learned how to demo walls, demo tile, remove carpet and cabinets. I painted all of the baseboards throughout the house, installed all the light fixtures, learned how to wire can lights, and how to switch out receptacles just to name a few. Having this knowledge was so beneficial to my future projects.  We all start out not knowing how to do something knew, but you learn and grown throughout the process. One of the best ways that I learned was by doing the work, trying out new designs and by trial and error. 

Who says a neutral palette can't be fun and unique?! We love to play up simple color schemes by laying tiles in different patterns paired with a bold statement tile to really make a BIG impact.  Our client wanted a modern feel in their newly spacious master bathroom so we chose to these amazing tiles by Floor and Decor to give them a design truly unique to their home. We incorporated all matte black lighting and plumbing fixtures to pop against the white walls and gorgeous Quartz countertops. 

We more than doubled the square footage of our client's bathroom so we needed a flooring that could handle the new length of the bathroom without taking away from the other design elements. A concrete-look porcelain tile set the tone of the modern design we were trying to incorporate in this space. We chose to lay the tile in a straight stack bond pattern, however this beautiful tile can be laid in a number of different ways to change the feel of the space and really make it your own!

This simple yet beautiful shower consisted of 3 different tiles and 4 different patterns! Getting creative and having fun with your tiles, even if they are the same tile, will add so much character to your space.
The top of the shower featured a double herringbone created with the 3 x 12 Meringue Ceramic Tile from ​Floor & Decor, continued on the bottom half of the shower in a simple brick lay.
The matte black fixtures tie everything together and we could not be more happy with how this simple tile made such a big impact in this shower. 

The best part of this baby is the absolutely stunning, black 2 x 8 straight lay tile we used as a decorative band along the perimeter of the shower. This simple addition adds so much character along with separating the Meringue tile allowing them to shine on their own in different patterns. 

DRUM ROLL PLEASE!! This shower floor pan is to die for, pictures just do not do it justice people.
Soap niches and shower floors are both great options for more of a bold tile without going overboard or taking away from the rest of the design. We lined this black and white marble mosaic with the same black tile used in the decorative band to really tie it all together. 

In your next project, don't be afraid to try something new and spice up that neutral pallet.
Our partners at Floor and Decor have new, amazing tile options being added constantly at affordable price points for you to choose from sparking creativity project after project!