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Updated almost 7 years ago on . Most recent reply

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Zachary Abbott
  • Chesapeake, VA
0
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Beginner trying to flip houses

Zachary Abbott
  • Chesapeake, VA
Posted

So I have a hard money Lender offering 70% of my fix and flip deal, but I have no capital of my own. How would I or how do you get that other 30% as a beginner with no real cash but good credit?

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GR Blanke
  • Lender
  • Barrington, IL
2
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23
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GR Blanke
  • Lender
  • Barrington, IL
Replied

Zachary it seems like a part of the process is missing. We will lend to newbie's based on 65 to 70% of ARV and strength of borrower(s); however we give you 80% of the purchase and 80% of the rehab if ARV fits. Once you have 3/4 flips under your belt, we will lend 90/90 and 90/100 on extremely an experienced flipper. We also offer personal loans to assist with cost; however some investors require a 2 month seasoning. Hope that helps.

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