Funding Real Estate Deals
One thing I keep reading and seeing is that you can invest in real estate while having $0 in your bank account. Can you really though? I'm ambitious, but one thing holding me back is finding the money. I researched and talked to over 10 reputable hard and private money lenders and they all required about 20% down payment. 20% of $150,000 is $30,000! That's $30,000 I don't have, my family doesn't have, and no one I know has. I'm lost as to how to fund deals. Advice would be great
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I work with 2 lenders here in Orlando but they all require you to put up some money. As an example for a buy and flip you can get a 90% loan to buy the property and rehab it as long as the total borrowed is not more than 70% of Appraised value. It is for no longer than 1 year but you have to put up some cash.