But I managed to position myself with a few non rent controlled condos, and having those in this city is basically like printing money.

They have friends and family to borrow from, or they can try to get an advance on their salary.

There are other strategies which require no money out of pocket but typically a beginning flipper is going to need some available money at hand to get into the game or even to put you in position to use those strategies.

Sometimes in this position we need to step back and look at the bigger picture and I think that is why you asked the question.

Also, having predetermined what is important to you in a loan - speed, low down payment, no credit check, or low interest rate/fees will enable you to concentrate on the lenders and brokers that deal in those types of loans.One important caveat - If you have 25% down payment money available, a credit score of 720+ and the time to close, you will be able to score a long term low interest rate loan that will allow for a positive cash flow on a large number of investment properties.

From there, you can move up in interest rate or start adding equity share positions.

I would be surprised if any will do one from second position and not require the initial lender to be paid off.

Thanks for the positive feedback.

I'd position it to them that this is your first of many investment properties.

The CAP and ROI seem attractive, but am I giving up too much in terms of the returns given my equity position??