Not that it really matters.No institutional lender will give someone a loan that doesn't have:1) Credit history2) A social security number3) Income3) Employment historyYou'll want to research Wholesaling and Land Contracts.

Could any of you guide me on what I should do initially to secure financing?

The buyer may pay off the remaining balance at any time without penalty.2.Late Payment Penalty: A late payment fee of 5% of the overdue amount will apply if payments are more than 10 days late.3.Loan Security: The property will serve as collateral for the seller-financed loan.Hey @C.S.

.- There is risk in that the rehab has not been completed and the financing has not been secured so there may be unforeseen issues with the home or lending process that may cost more than the estimated costs which can then reduce profits.- The tenant buyer may decide to not exercise the option or may decide to terminate the lease early which may produce a profit less than the projected returns.- The money partner is not the only owner of the company which owns the property and thus has limited decision making over the property.

Assuming plans are needed to secure a permit.

In our view, experience and integrity are by far the most important parts of any private loan.

I'd consider real estate debt funds and private lending but that's not on my immediate radar right now. 

While sophistication of your equity partners (private money lenders) will vary between residential and commercial, the principle of raising private capital is the same.You need to develop your own system which allows a constant stream of PML even when you don't need the funds and/or don't have an active deal under contract.For example; I raise private capital by offering free educational workshops for people with self-directed IRAs.

However, the journey has been anything but smooth, and we are now at a critical crossroads.Despite securing approval for our 42 townhouses, the soaring construction costs have made the project financially unfeasible.

@Justin FondrenIf your credit score is in the 700–730 range, you're in a great position to secure favorable loan terms.