Advice for 100% OPM Flip

[Tamzen Tocher]

Hello everyone,

I’ve been interested in getting into real estate and doing lots of education and research. I am potentially interested in doing a fix and flip with 100% OPM. I know I can reach out to some mortgage brokers to connect me with a private lender for most of the mortgage and then I would just need another lender to supply the down payment and renovation money. What is the best way to go about finding someone who wants to invest with me? I was going to use the “find a lender” feature on this website but I’m Canadian so it doesn’t look like it’s open to us. 

Thank you!

[Jonathan Greene]

Welcome to the site. I am a little confused though. You want to get into real estate investing, but you don't want to use any of your own money? You may have read how this is possible (it is "possible"), but the costs to do it will be very high given your lack of experience and know-how.

You are looking for someone to invest with you, but what is in it for them in this equation? Right now, it seems very one-sided.

[Chris Seveney]

Quote from @Tamzen Tocher:

Hello everyone,

I’ve been interested in getting into real estate and doing lots of education and research. I am potentially interested in doing a fix and flip with 100% OPM. I know I can reach out to some mortgage brokers to connect me with a private lender for most of the mortgage and then I would just need another lender to supply the down payment and renovation money. What is the best way to go about finding someone who wants to invest with me? I was going to use the “find a lender” feature on this website but I’m Canadian so it doesn’t look like it’s open to us. 

Thank you!

 Unfortunately getting 100% financing with zero experience is most likely not going to happen. Also being in canada what is your plan to do fix and flips? Will you come to the US to visit and manage the project? what is your overall business plan and based on what you want to do, what is your differentiator of why someone would give you money over someone else?

[Jay Hinrichs]

this is mission impossible.. although you might have some fake lenders approach you looking to steal up front money from you.. so be careful. 

[Obed Calixte]

Very unlikely to happen. But assuming you managed to pull this off - What value are you bringing?  

[Mike Klarman]

Everyone and their mother is ready to do a flip with 100% OPM.  What do you have to lose?

I know the podcasts and books speak about being in a deal with zero skin in the game, but that is an outlier situation not the norm.  To do with other ppls money, you need that personal relationship with the money source and then they have to trust you in terms of market research, boots on ground, analyzation, contracting, and exit sale.  You have all that in place?