All Forum Posts by: Julian Green

Are you a handy man or contractor? If you really want to do the flipping, it would be beneficial to you to help others to do their flips.  You earn some extra money as contractor and learn the flipping process through the job.  After a few deals, maybe the investor would invite you for a joint venture to do more flips.  In the meantime, expand your network and connect with people who are in this industry (Lender, realtor, wholesaler, investors).  

Yes, it takes time.  You need to know what you are doing.  Otherwise it is a gambling not investing. Good luck to you.

Oh man. That's a tough one. I wish there are ways to invest without capital. I saved up for my first property and expand my portfolio over time.  For investor who don't have a lot of savings for down however they have a house with good amount of equity in it.  They can apply for a home equity line of credit and hopefully it is big enough for 20-25 min down. Then you can present your project to hard money lender for funding.  I have to warn you though. The interest for hard money is not cheap.  It is about 10-13% on top with 1-4% origination fee.  You have to know what you are doing or the interest eats up your profit fast and you are under a huge default risk which you may end up with nothing but debt. 

I don't think there is no money down option nowadays except for VA loan. If you plan on living in it, 3.5% is the minimum for FHA loan or 5% for convention loan. For investment purposes, 20-25% down is expected

Do you have 25% down?

No I do not in looking for a no money down option to buy my first property to help me get the ball Rolling.

@Julian Green

How many private lenders have you asked so far? 

I haven't actually ask any.. I looking for a couple tips first.. 

Check out Craigslist! Just search for keyword "seller finance" or "owner finance". Also, even if it doesn't specifically say seller finance, it doesn't hurt to ask. I'm going to check out a property tomorrow that I found on Craigslist.