I am just starting out and my plan was to borrow enough to buy two homes and then sell one to pay off the debt quickly and anything else would go to fixing up the other home. Would some lenders delay the monthly payments to get the full payment or do I need to ask a private investor?
How much of your money are you investing in the deal?
I need to borrow about 100,000.
Nothing at this time.
I don't know anyone that will loan 100%. You have nothing to lose
@Jeffrey Quinn - I don't really understand what you are looking for. Funding to do a fix and flip? If you have no money to put down you would probably look to borrow from friends and family. Conventional financing will require a down payment with your own funds. Even hard money lenders usually require you to have some money in it, especially if you are looking for funds on the rehab costs
Thanks for the information. Apparently, I was led astray by false information. My thinking was to borrow the money and offer a good return when I was able to sell one of the houses. Thereby giving a return of about 15% interest. Now I think I will have to work a little harder to scrape together about half first.
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