Real Estate Agent · Vineland, NJ · Member since 2016 · 1 post · 0 votes
I am a general contractor in South Jersey area and always wanted to become a real estate investor. I wanted to start with flipping houses but wasn't sure how to get necessary financing. My spouse is a real estate agent in our farm area as well, which might help me find good deals. My problem is that I do not have full cash money to buys a property and rehab it. I wanted to see what are the best ways to get financing to flip houses quickly?
Investor · Boise, ID · Member since 2011 · 1k+ posts · 736 votes
10y
It sounds like you have some skills that should garner credibility with private or hard money lenders. I would start connecting with other investors in your area for referrals. There is a lot of private money available out there for the right projects.
Investor · Boise, ID · Member since 2011 · 1k+ posts · 736 votes
10y
It sounds like you have some skills that should garner credibility with private or hard money lenders. I would start connecting with other investors in your area for referrals. There is a lot of private money available out there for the right projects.
Investor · Pennsauken, NJ · Member since 2014 · 50 posts · 10 votes
10y
@George P. and @Jonna Weber hit it on the head. Go to local REIA meetings (the app "meetup" is great for finding those) to meet other investors who might make great partners who might be able to help with financing, experience, or referrals. Also, do seperate searches here on BP for hard money lenders and private money. That way you can get a better idea of the pros & cons, and what reasonable interest rates, fees, terms etc. can be expected to avoid getting gouged. Either way, you will likely need to come to the table with at least enough cash for the repairs + contingency buffer unless you find carefree friend/relative private money or a partner who is hands off and relying on your skills and time to execute the project.