Looking for 100% funding for Fix & Flip

[Cinde Moore]

While building my new pipeline, it came to my attention, that I would also need to scout for private lenders to add to my pipeline. Brokers will work as well I believe.  

I have been moving slow with my project due to the seller... she is 93 and I don't want to overwhelm her with to much at once (saving that for later). Looks like she will be ready to sign next week, and I am working on my team to help get the project complete.

Any hints, help, name dropping and/or direction for lenders would be greatly appreciated! (Referrals, Referrals, Referrals)  Thanks!  :-)

[Charles Worth]

@Cinde Moore

More important than will you, why would they give it to you? You have no skin in the game and for that level of risk why not just buy the property themselves? If you think they don't know the contractors and can't get the deals they could. if you default they are basically left with the same property they could have just bought themselves and been in a better position because they would know the area better if they bought it themselves. 

Assuming you are doing only a few properties there are ways to get 100% financing:

1) find another asset that is worth something and put that up as collateral. Best if it is another property that is free and clear. 

2) Find family/friends, etc. and sell your business or the deal itself. Probably the easiest option considering your experience and that i assume you have a fair number of people you know. Its not well-known but a lot of really good operators use a lot of private lenders like this so don't think of it as a bad thing.