How to go about Getting Funding?!

[Elijah Crowder]

Hi BP,

How do you go about funding, when you are still working on building your credit score?!

[Christopher Phillips]

@Elijah Crowder

Flipping, you can use private or hard money lending. That's how most flippers operate. Short term lending around 6-8 months. Purchase and rehab funds. Expect a certain % out of pocket up front. Interest only payments 10%-12% with total due at end of term period. Important to get the work done on time so the house can be listed and sold before the balloon payment is due...

Other option would be to find individual investors that will fund the purchase and rehab with the assumption that they will either split profits or be paid a compensating interest rate.

For buy and hold, you can use private money, partner with someone that has the credit/money.