Ready for my 1st house flip / or Rental property

[Chris Castillo]

Hello, My name is Chris and I am new to real estate investing in Florida. I was able to fix up my credit ( currently building it up ) and save up some money for a 5% down payment for anything less than 200k. I looking for some guidance as well as I have a question. My questions is...... 

Once I have interest in a property and I gain either a private lender or bank lender for a purchase on a property , What can I do for Money in regards to the rehab of a property along with closing fees/ inspector / etc. ? 

So as a 1st time investor , I am asking How i am able to get the $ for rehab without going into my own pockets?

[Abel Curiel]

@Chris Castillo

Great question!

One route to strongly consider would be to connect with an investor-friendly lender about a rehab loan (i.e. 203K loan) which will allow you to finance your renovation costs. This way, you minimize your up front investment and force appreciation with the same loan you're using to finance the property.

If there is enough 'meat on the bones' for the deal, you may be able to finance your closing costs.

Lastly, if the deal is good enough AND you're working with a great Realtor, you may be able to negotiate closing costs as part of the deal. If you're looking in Orlando, Tampa or surrounding Central Florida areas, I'd recommend you reach out to @Steven Torres.

Best of luck to you moving forward!