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Updated over 4 years ago on . Most recent reply

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Ed S.
  • Real Estate Agent
  • Miami, FL
4
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27
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Is there a way of using OPM to flip a house without using my own?

Ed S.
  • Real Estate Agent
  • Miami, FL
Posted

I know this may sound crazy but I found a great deal in a growing neighborhood. I was advised by an investor to ask a family member for a hard loan to be able to flip my first property and possibly split the profits ( about15,000 to 25,000 each of us). His answer was no because he's scared of what might come of the market as a consequence of what's happening in DC. Now, I have very little money to put into this property myself but I am confident in my abilities to profit from this. What are the chances of getting into this deal with a lender without using any of my own money?

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13,412
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Joe Villeneuve
#5 All Forums Contributor
  • Plymouth, MI
19,447
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Joe Villeneuve
#5 All Forums Contributor
  • Plymouth, MI
Replied

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