Can you start in fix and flips with no capital on hand.

[Danny Benavides]

Just curious can you start in fix and flips even if you do not have enough capital on hand to purchase a property?

[Anthony Giannette]

Sure you can. However you need the right connections to do it. Seeing as almost everyone here wants to buy something for nothing...even ME! The barrier to entry is finding someone to trust you enough to foot the repair costs. Banks have been doing this with their own foreclosures for quite some time now. How YOU must do it is come up with Earnest Money at the minimum. Then you have some time to run around finding someone to help you with it. Not the best plan, but this is the outline.

The newest and best mouse trap to keep you from buying is the old "Pre-Qualifying" letter. This is a letterhead note from a bank or private lender who basically states that you have access to the capital financing to buy this property. This is a way to prevent financial contingency foul-ups for the seller. AND if you get into this process, there is a chance the seller will "reserve the right to sell". This moves your offer to an open offer instead of taking the house off the market. The race has begun!