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Updated over 7 years ago,

User Stats

14
Posts
1
Votes
Malte Lange
  • Chicago, IL
1
Votes |
14
Posts

Questions for Flippers

Malte Lange
  • Chicago, IL
Posted

Hello Bigger Pocket community!

I am brand new here (in terms of having an account), but have browsed the website for a while now. I have a longstanding interest in real estate and was wondering if I could ask members a few questions.
I'm mainly interested in setting up flipping opportunities, for myself and others. My main concern is finding opportunities and the funding. From what I understand, the main paths for financing have to do with some form of lending, either from the bank or a private investor. One way involves a lengthier process with lots of credit paperwork and both come with possibly large down payments.
I was wondering how interested people would be in opportunities in which they didn't have to put any money down, and instead their only cost would be associated with the repairs themselves.
How interested and willing would you be to do this on a scale of 1-10?
But the main catch here is the property wouldn't officially be in the flippers' name. Would this be too much of an issue? Does this change the above rating?

And finally, as a flipper, what other reservations would you have, given that there would be some form of contractual agreement in place?

Thank you for your input and help!

Malte

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