Funding a rehab purchase with no money down

[John Kihm]

Hello -

I’m looking to flip my first project which is in the Miami FL area.

I want to obtain funding for the purchase and use my own cash for the rehab, holding, and closing costs, etc.

The problem I have found with hard money lenders is that they will provide somewhere around 70% of the purchase value. I understand that they want the buyer to put some equity into the purchaseso they are “on the hook” as well. Which is understandable.

Question - if I’m wanting to hold on to my cash for the rehab and other holding costs, what’s the best way to make up that 30% to initially purchase the home?

Is it as simple as going to another hard money lender to obtain the remaining 30%? Is that even allowed and/or ethical?

Asking for a friend....;-)