No Money, No Credit house flip

I'm not trying to sound like a wise ass, but all of Deans materials and this entire website is the only way to entirely answer your qustion. Go to the Real Estate forums section and click on the very first subject: buying foreclosures, Reos, MLS. Scroll down to the Assigning deals thread, or to the fixing up homes rehab thread. Just about everyone here started or is starting out just like yourself.

Longhorn

If you get it well below fmv, then you can get hard money or private money to cover all your costs. Hard money usually covers around 70% of after repair value (arv), so as long as your property has a good profit spread, then you could do it with no money down. HM is very expensive though, so you need a second exit strategy if the property doesn't sell right away. For instance, refinancing and lease optioning.

I don't know where you live but maybe you can partner up with some one that has good credit but not the talent you have to fix a home for resale. If you can sell your self to another investor that wants to flip houses you can make money with bad credit. It won't be your cedit that gets the home but after you put your sweat and labor into fixing a home you can split the profit then put that money into the next home.

I see a lot of people asking if DGers want to partner up but you will have to bring somthing to the table like repair talent, credit, good at negotiating the deal or finding the deal, just to name a few.

Cody if you have the talent to remodel a home find a partner in your area that you can team up with.

I hope this will help.

Steve

I like the sound of this idea... I want to do something similar... Right now my husbands credit is fairly new but we are going through a credit repair program to get tradlines added.... I found a duplex worth 160k but going for 50k... It needs about 15k in repairs but we have no money down... Will hard money lenders give us the purchase price and repair cost... We want to get a VA loan once repaired so we can live in one side and rent the other... I hope this makes sense lol