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Updated about 9 years ago,
Newbie Question - Financing
I have a newbie question regarding financing. I have heard that "if you find the right deal, you can always find the financing," so I am testing that theory. I have found a flip deal that I am trying to put together in Florida and I attempted to start a discussion with the R/E agent, but quickly got back the reply of "show me the money." If you find a deal, and don't find the financing, then it isn't much of a deal, eh?
This is my first attempt at putting together a fix-and-flip project, and I could use any (positive/constructive) advice. Please do not reply with mean-spirited comments or comments to try to knock me down, like so many comments seem to be on here.
The basics are...ARV approx $200k, repairs estimated at $25k, and I want to pick up the property at around $120k.
I guess I need a mentor, and a relationship with a lender or two.
Remember, if you can't say anything nice...