What's up guys? My name is Brian Devilla and today I'm going to teach you from beginning to end how to do your first flip or wholesale.

I'm going to literally give you everything you need.

So watch the entire video and then if you end up doing a deal let me know in the comments or send me a

DM on IG. We're gonna get straight to the trainees. Number one the very first step you're gonna need to figure out is do you have an LLC for real estate

or not it's a simple question do you have a LLC for real estate or not if it's no

then yes you need one, right? That's like the number one

question I always get. Do you need an LLC? Yes, get an LLC, you're starting a

business, you're going to have expenses. You need an LLC. Another reason you need an LLC is for step two because if you're flipping a house and you get a hard money loan the hard money lender is going to need you to have an LLC.

So if you don't have an LLC, most hard money lenders are not going to give you a loan.

So, number one step, get an LLC. Number two step get

pre-approved with a hard money lender if you're going to flip a house and I'm going to give you two hard money lenders you can work with, K-I-A-V-I or anchor loans.

Both of those companies give hard money loans.

I'll give you a third one that's going to be civic loans. All three of those companies do hard

money loans almost across the country. If for some reason they don't do them in

your market what you could do is just Google Hard Money Loans, Oklahoma, or wherever you live, and that's how you could find a Hard Money Lender.

When you're working with a Hard Money Lender, three things you need to figure out.

Number one, how much money are they going to ask you to put down?

Is it 10%, is it 20%, is it 50%, what's their typical down payment, right? How many points are they going to charge you? So one point is 1%. So on a $100,000 house, one point is one thousand dollars so they charge that up front when you close your loan

For new investors you're typically gonna pay between two to four points

Experience investors like myself will pay one point, sometimes no points. And then the last thing you need to know with the hard money lender is interest.

So they're going to charge you anywhere between seven and

sometimes I've seen 13% interest annually. So on a hundred thousand dollar loan, 13% annually is $13,000, then you divide that by 12 and that's how you figure out what your monthly payment is going to be.

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