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Updated almost 5 years ago,
How to get money for a 19 year old
What advice do you have for a 19 year old trying to do his first flip?
I have been pre-approved for a $160k FHA loan. I current live with my parents and have been working my butt of for the last year and a half saving cash. I want to move out and buy a flipper! My goal is to turn it into a duplex and rent out the second half to minimize my mortgage.
I have found a property for $99,000, but I honest think I could get is for $85,000. Comps are about $80k-90k
The thing I'm most scared about is not being approved for a renovation loan! Do you have any ideas for what I could do about that?
(P.s. I have a 765 FICO)
Thanks!