Just Started - First Fix&Flip - How to Finance?

[Matt Johnston]

Hello everyone,

I'm brand new to real estate, although I did buy a condo in Washington DC area, which I live in. Excited to join. I just started listening to BiggerPockets podcast. (I'm on #21). I'm looking at making an offer on a bank-owned REO in the small rural town I'm from in New York, and don't know what the best financing is for it. I have good credit score, but really bad debt/income ratio and cannot get bank loans or anything like that. I'm thinking about hard money for this fix & flip, but wondered if there are other options that are less expensive, but which also won't look at debt/income ratio.

Thanks, 

Matt