First Flip Financing / Low Cash

[Cameron Fowler]

Hey BP Community,

I am wanting to get into flipping and I have the construction experience but am lacking the cash or money to fund a deal. I have been trying to save up money but it is not near a down payment for a traditional loan. Are there any options out there that won't tear away the margin on flips? Or any other type of special financing that I have not heard of. Would love to hear from the community on their thoughts or experiences. 

[Kynzie Neal]

Hi Cameron. We just purchased our first fix and flip, we used a hard money loan, interest is high but when you're in the property for 6 months or less it seemed doable to us. We got a hard money loan for 12% and put down 10%. We have an amazing realtor who helped us find the property and helped us run numbers on possible ARV, @KiKi Wood.