Mortgage for doing a fix and flip?

[Dave Howland]

Hello All,

I have a buddy that wants to perform a fix and flip - he has one thing in his favor and another not.

The first, a problem, is that his credit is pretty bad. Maybe around 600.

The second, maybe a problem, I don't know, is that he has a lot of cash. Upwards of $200,000.

We saw a house for $275,000 and was trying to figure out - if he wanted to finance - is there any amount they'd accept as down-payment? I could co-sign for him, but we're not that close ... so I thought I'd ask here. How could he do this deal if no mortgage - anyone have any ideas? I've looked around and haven't stumbled onto anything.