Trying to get funding for rehabs. Everyone is saying, "NOOOO! NOOOO! NO!"

[Nick Dallaire]

There are SOME downsides to being a "young buck" in the real estate game. Being a 23 year old I find it very difficult to aquire any funding for rehabs or any type of deal for that matter. I have no property for collateral and limited credit experience given my young age. I just have to be patient and save my hard earned mulah lol A couple more wholesale deals under my belt and maybe I will have enough capital to pounce on a property myself and rehab the crap out of it. Until then, its just a waiting game for me. "In the end, you're measured not by what you undertake but by what you finally accomplish" - Donald Trump (1946)

[Anson Young]

Originally posted by Lokesh W.:

Hard money lenders require huge down payment and points. Best thing would be to continue wholesaling. For Rehab project, initially do a couple of joint ventures with someone who has experience.

Hm, all my flips have been zero out of pocket, with the HML funding 100% of fix and purchase. *some* requite 'huge down payment', some dont. Find the ones that dont and show them the numbers on the property. If they bypass you move to the next guy. When you find someone who believes in the project, go back to the other guys when it closes and show them the HUD-1, not only for how much they missed out on making, but that you mean business.