Backflip Real Estate Investing

As a full-time real estate investor, and having tried out a few lenders, Backflip is by far the best hard money lender there is. They make the process incredibly easy from start to finish and everyone on their team is amazing to work with. From analyzing properties on the app, to ordering rehab draws in their portal, you will not find a smoother loan process out there. Whether you’re a beginner looking for your first project, or an experienced investor looking for other options, you will not be disappointed with Backflip.

This app has so much promise. I can see this being incredibly powerful… and it’s pointing that direction… but it’s not there yet. Glitchy and “calculations” are gimmicky, very basic and don’t include selling costs such as agent fees. So There’s 4 things I need to see it do better before I rely on it. 1) Comps need to be clearly labeled between sold homes/prices, active listings, and pending prices. Sometimes they say “sale price” and you can’t determine if that means sold or active. 2) When you add and remove comps sometimes it saves, sometimes it doesn’t, and sometimes you just can’t add or remove… no matter if you reboot the app or not. This needs to be fixed. 3) the ARV and Profit numbers are misleading. They don’t allow you to put in holding costs (of using their lending you have the app for), insurance, tax, or realtor % when you sell later. These are big costs and should be noted. 4) when I edit a property that is a different sqft then in the numbers the app pulled back, it still calculates ARV with the original numbers. The app will store my edited data that a house is 2000sqft, and arv will say 200/sqft, but the total arv will still calculate at 2500sqft and show 450k ARV. I’m glad I don’t use this to buy on fly. Fix these issues and I’d give it 5* in no time.

Where has this been? I used to spend hours looking for comps and putting together spreadsheets when looking at my real estate investments. With backflip, the analysis is done in real time and could not be easier. Best part - they also do loans and the process is 100x better than other lenders. Highly recommend.