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Updated almost 10 years ago on . Most recent reply
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Funding my first flip
Hello, I'd really love to hear from anyone who has successfully flipped a home with no money down. I'm open to hard money and private lenders, not so much with wholesaling.
I'm an experienced Realtor, I know my market, and I have a network of contractors with over 20+ years of experience in my market.
Thank you!!!
Most Popular Reply
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I do all mine no money down. My private lender funds me at 100%, I get it all when I buy and pay him back when I sell. Pretty strong relationship, though.
The last one I did I borrowed 90%ish from the hard money I broker and did the difference from the private lender (much smaller loan, easier to come by from lenders, virtually unlimited funds from the HML, while my PL does get in the mood to buy a house or Ferrari instead of loan $ to me from time to time).
None of the institutional lenders I know of will do 100%. There are some guys out there pitching JV types of deals, but I haven't seen any that made any sense when you got into real costs. Pretty easy to do once you've got a few deals under your belt if you know the right people and your numbers are solid.