Finding an investor...

[Account Closed]

I'm new to this whole "house flipping" thing. There's a house in the family that my family member is too old to live in so I had the idea to flip it and then sell it for a profit. My situate seems a bit different then most in the sense that I don't (hopefully) have to purchase the house. It's paid off, so all I would need is an investment in the amount of what the renovations, closing cost and everything else will be.

My question is, how do I find an investor? Will this process be like trying to get a loan? Meaning, what makes them invest in someone? Credit, experience, etc.?

Any advice would be great.

Thanks!

[Tom Goans]

I just would not recommend you pursue this idea. Your determination to buy the house and make a profit shows the possibility exist for other family members to become upset, if not today, some day in the future.