Hi everyone, I'm very new to real estate investing. I've been researching for a few months and lurking on these forums for a while, and have a question about where to find investors to fund deals. I've been infatuated with some of the homes and deals you can find up for sheriff sale, and would like to start buying from these auctions to flip and sell. One home in particular that I was interested in was supposed to go for auction but was postponed, and I would like to contact the owner and buy directly from her. I would need an investor though, to fund purchase and rehab. I have a good credit score, but my credit is still new. I also needed to leave my job because of a torn hip, so there is no way anyone/any bank would loan to me without a job (although I have a side job/hobby that I do to make a tiny amount of cash). Is there any way I could make this work? I am willing to be incredibly generous with what the investor would get back, as I know that I don't have a proven track record of what I can do. I just want to get started.
Hard money loan
You need 25-30% of the loan.
Where are you?
Ok thank you. I am in Philadelphia, PA.
If you have 20% down and good credit, you should be able to get a hard money loan for this.
Convincing a homeowner in pre-foreclosure to sell to you when it's that close to the auction date, that would be the tougher part.
Come to a Meetup in philly