Flipping without using your own money

[Belliny Flores]

Hello BP community. I'm a complete newbie looking to take the dive and looking into all avenues for financing for my first flip or buy and hold. I keep reading and hearing of purchasing without using your own money but how much truth is there to that? Is it only in a perfect scenario? If so, what would that scenario be? Or is it only with private investors? Or are there actually lenders that are willing to lend 100% of the purchase plus rehab costs? Any advice would be greatly appreciated before my first plunge.

[Rick Pozos]

Hey @Belliny Flores the process is simple but requires plenty of work on your part. They say you have to bring money, knowledge & experience or hard work to the table. With that said, it sounds like you are ready to bring the hard work since you dont have money or knowledge.

FIND A DEAL. When you have a great deal, the money partner will come. Usually the money person has the knowledge also. After you have pounded the streets, talked with 50 to 100 people who are in a bad situation, you might find one who is looking to sell. Get it under contract. Let your money person know that you have a great property under contract and that you want to flip the property WITH them. Share the profits. See what they do.

Let everyone know what you are doing. People will want to partner with you more. People will want to lend you(invest) money.

Almost all of my deals are 100% financing and always have been from day 1 which was 18 years ago. It all starts with a GREAT DEAL.