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Updated almost 6 years ago on . Most recent reply
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Want to do my first flip
Hi, I'm in Cali and I want to do my first flip. I plan to get a house by wholesaling. I need to know how to get started with no money or much money of my own. I want to get funded for the purchase of a property and also funded for a flip. Is that possible to do both? I'm really motivated to start my business in ROI and this I want to do to start working towards passive income and so much more. Any and all advice is appreciated especially the number game.
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Hi @Ashley Dupoux. An idea for you would be to start talking with everyone in your social circle about what you're doing. For me, I have found that people usual will be mention their own property or rental property. This can be a source of equity they can use to invest in one of your deals. For myself, I have found success in finding money using this technique. More so with people have more experience in real estate investing. I even found someone in my extended social circle that already did private lending on flip projects.
The other option is always Hard Money Lending. You may have to call around a lot to get 100% lending on a flip project. I have had one Hard Money Lender tell me they would lend 100% if the deal was good enough for them.
Hope this helps!