Backflip Real Estate Investing 4+

Easiest Hard Money Lender to Work With

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.

Want to Love it - Almost there

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.

Developer Response ,

Hi Godhawk - We're happy to share that with the help of your feedback, our latest update has addressed all of these issues and have been fixed!

In addition to the bugs fixed previously, when you update your app, you'll find not only a completely redesigned app, but also a new calculator where you can enter insurance, tax, and realtor percentages in the one-time cost field. Additionally, you have the ability to enter other monthly holding costs that are outside of your loan payment and rehab costs, so you can be sure the ARV and profit calculations are more accurate. Plus, comps now have clear listing statuses.

Thank you again for sharing your thoughts, and bearing with us as we work to give our members the best possible experience when using our app! Your feedback has been invaluable in making these improvements.

Driving for Dollars is next level!

I downloaded the app this week after hearing about Backflip through a colleague of mine and the Driving for Dollars feature is amazing! All you have to do is point your camera at any house and it will give you the address, ARV and suggested comps. Great addition to my toolkit and I am excited to see what will be coming next.