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Updated over 4 years ago,
Private Lending/HML help
I have been trying to get into real estate for years now. I’ve read books, watched shows, and attended seminars. At this point, I’m ready to get started. But, I am literally stumped. Can anyone offer any advice or guidance on how I can secure financing for my first deal? I do not have a substantial amount of cash for fund repairs or a large down payment. One the credit side of thing it’s pretty solid, I’m sitting above a 700. Debt-to-Income only about 15%. I would love to partner with other investors in the area but I do not know any. Is there a way I can potentially find them? From my research, it seems as if a hard money loan would be the best route for me to take. I am in the Northwest Indiana area and plan on this being my farming area. I would like to start off with a decent size single family home that could generate a quick flip giving me some experience and generate a good profit. Does anyone know any lenders that will lend to a first time flipper? This is something I’m passionate about, I don’t want to jump into anything and screw myself but I’m ready to get started. Thanks for all of your help you all, as you can see I really can use it! Please give me any advice you can, I am a novice.