Money for Flips in Arkansas

[Kristina Dodson Dupree]

Hey investors,

I have been on bp for a while and am interested in both flipping and buy and hold. Right now I am more interested in flipping. My dilemma, like a lot of others, comes in with financing deals. I'm constantly searching around for deals online etc but I don't have the money to finance. I JUST closed on my own personal home so all of my own money is tied up in that. I see foreclosures and auctions going on all the time, many of those auctions are cash only of course. I also attend my local REIA meetings but have only been a member for a couple of months... so I have not been able to network as much as I like. With all of that being said, Ideas are greatly appreciated. Does anyone have any unique strategies for getting financing to fund flipping deals with VERY LITTLE to NO money upfront?

Thanks in advance!

[Erik Peterson]

I remember before I closed on my first property I was living in a studio apartment, and I would go to an open house on the weekend, then come back to my apartment and make a 12 month business plan for that property. I would assume all of the costs associated with holding the property, as well as rehab expenses. I would even make drawings of landscaping, remodeling, etc. I did that, in detail, for quite a few months before I had enough practice under me, and showing my plans to people, I finally had a banker who was impressed with me!