It takes money to make money I guess

[Derek Young]

So I'm stuck and frustrated, can anyone help on some recommendations...

My partner and I have approximately a $20k-$30k down payment for a property and would like to get a quick injection of cash by doing a low risk flip. We have a property picked out listed for $105k (REO) and confident that based on comps it would be a quick sale at $130k and maybe a little more aggressive for $140k. The house is in need of minor cosmetics, carpet replaced with hardwood and minor kitchen and bath remodels. If they would accept an offer of $90k-$95k then we would stand to make a profit of between $15k-$25k.

Is there a way that we can finance this conventionally and finance construction costs or are we out of luck?

I have been working with a mortgage advisor but the only package of products he can offer is the 203k, 203k streamline, and the Fannie Mae Home Path loan which won't let you resell.

If there is no way to do this, then I guess my strategy will have to change %100 as we would not be able to afford a large down payment if we can't find a way to finance the rehab costs somewhere.

[Mark Ferguson]

your only chance is finding a local portfolio lender or using hard money. You also need to list out all your costs to see where your profit is. I think your potential profit may be a little high.