Loan Officers I need your advice!

[Arshiya Taami]

Hello everyone I am 18 years old, with no proof of experience in the fix and flip business. I have a credit score of 750 and 15k in cash and was wondering how likely I am to be accepted for an HML. I want to do my first fix and flip in the future but I am afraid that no hard money lender will give me a loan considering my resume.

[Doug Smith]

Partner with an experienced flipper to do your first 3-4 deals. Make sure to take at least a small (10%-20% interest in the project). Two things will happen. First, every new flipper makes a lot of mistakes in their first handful of deals. Having someone with experience to learn from will be huge for you. Second, the lender is going to ask you for a "Schedule of Experience". Yours will be blank. Lenders aren't going to like that. Having a handful of deals on that, even if you were a partner, will go a long, long ways with a lender. You're only 18. You've got your whole investing career ahead of you. Don't take short cuts. Learn, pay your dues, gather that experience, and by the time you're a very, very young 23-25, you'll be an experienced investor. Good luck to you!