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Updated about 6 years ago,
Financing first fix and flip
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!