Hello, Forum! I have been interested in flipping a property for years, and a brand new listing popped up that I know would be my perfect first flip. My problem is, no one, and I mean no one, is willing to approve a hard money loan to a first time flipper.
Please, please, please don't suggest a private loan from friends or family, or a home equity line of credit. If either of these options were available to me, I would not be seeking a hard money loan. I am looking for funding to purchase and rehab the home. I don't have much cash to tie into the deal myself. Can anyone suggest a lender willing to work with beginners with no flips under their belt yet? We all have to start somewhere.
Any suggestions you could lend would be much appreciated.
