Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Private Lending & Conventional Mortgage Advice
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated about 6 years ago,

User Stats

2
Posts
0
Votes
Shawn Harrington
  • Flipper/Rehabber
  • panama city beach
0
Votes |
2
Posts

Financing first fix and flip

Shawn Harrington
  • Flipper/Rehabber
  • panama city beach
Posted
New on BiggerPockets but I've been following a lot on this site for a few years now. Anyway, I have a really solid deal in the making but I need advice on funding my first deal. I have a property I can get for $75k, 3 blocks from the beach, one block from the bay, needs $30k in rehab, and will be worth $200k easily after rehab. I will be doing all of my own work since I have 5 years construction experience and decided it's time to dive into real estate after years of research and waiting for the right opportunity. Problem is, I need to fund 90% of purchase and 100% of rehab, the only thing is that I do not yet have a home to use as collateral and being that it is my first deal, lenders are skeptical to lend to me but I am 100% confident I'm worthy of pulling this off. My credit is really good at 740 and I have good monthly income from my day job as a mechanical engineer. Does anyone have any suggestions or can anyone point me in the right direction on who I can get funding from? Thanks!

Loading replies...