NJ Agent looking to Flip her first deal. Need advice! :)

[Terina McKinney]

Hi all,

I am an investor-friendly agent so I spend my days showing properties in dire need of repair and as a designer, I am jumping for joy over all of the POSSIBILITIES I see in these potential flip deals.

But as an agent, I'm sending them to my clients. I want to be the one FLIPPING these houses and making a difference in dilapidated neighborhoods but I don't have the financial backing so I just feel like a kid in a candy store with no candy money. Very sad!

What do you all suggest? I see all of these ads for hard money lending but I don't want to apply for anything and take a hit on my credit score which I have been dutifully rebuilding after a divorce a few years back.  

I have access to deals as an agent. I have an extensive background and education in design. I have a commitment to rebuilding communities in my heart. I just have NO money for investing. 

PS: I already talked to my family about investing in real estate and although they like the idea, I don't see it happening anytime soon or in an organized manner. 

PPS: I have been "studying" REI for some time now through BP and in person at the SJREI meetings. I'm full of information. I just need the moolah but I don't want to make a move until I know the best route to funding my first deal. Any advice is appreciated.

[Nicolas Gaspari]

Terina McKinney hey Terina, I'm also a licensed NJ agent and I'm in the process of my first flip. Being in our position is great because we are agents. Leverage the fact that you have access to the MLS and a solid network to find these deals. Do your research and find a good deal. Let an investor know you found a great deal, ran comps for ARV, and got a GC there (one with a good reputation) for a quote. Show him the numbers and let him know you want to do the deal together and figure out a profit split that's fair to the both of you