So is it REALLY possible, (NO MONEY) ?

[Shannon X.]

I wanted to ask this question as their seems to be mixed answers when I do search the Internet. Is it completely possible to buy, fix, and flip with out any of your own money? Would any private lender be willing too fund your entire deal?

[William Bannister]

Let me talk to you about one of the first deals I ever did. It happened in the early 90's after the 1st S@L crisis and it was still a lethargic market in real estate. I paid 27k for a large 4 bedroom home near a college campus. I needed 5% down because the seller was a finance company and they wanted to unload the fixer upper fast. I needed 1350 for a down pmt. 500 I borrowed from a friend. The other 350 dollars I got out of a credit card. The remaining 500 came in the form of a real estate tax credit at closing. My pmts were 261 per month and I rented out 3 of the bedrooms to college buddies I know at 240 to 250 per room. I collected 750 per month and I had a 261 per month pmt and about 140 in property taxes and insurance and I had a 400 a month heat electric bill. I lived there almost free while I went to college. Later I rented out the last room and moved out after I no longer was in college and wanted my own place. 5 years after I bought it I sold it for 68k. If you live in the home 2 out of the last 5 years you escape capital gains tax;) 40k tax free? sounds cool and a place to stay free while in college.