Hard Money Lender for a 2 property purchase with no money down

[Nathaniel Lambert]

Hi BP,

Like the title states, I have come across an owner looking to sell 2 (maybe more) properties in different towns to a cash buyer. I am dying to get into REI but like so many of us newbies. I do not have the capital to even cover closing costs.

Am I S*** out of luck or is there perhaps options for me? I have met a potential future partner however they do not have sufficient capital either and I have only just thrown the deals at him to see how he likes them, without really implying we should partner in the deal - since I only brought him the deals - I could easily manage the properties but for now this whole thing is in its infancy.

Would it be possible to get this locked in with a hard money lender with the stipulations that since I would be getting the properties for a deal - only minor work needs to be done - that we could secure full cash payment then down the road (less than 6 month) refin. and pay them back plus all additional costs? The seller is in dire need to raise money which is why they are selling these positive cashflow properties. Also, if needed, would negotiation to split cashflow be a factor in this process or is that not thought of from HML?

All input is appreciated!