Updated about 7 years ago on . Most recent reply
Financing Question from a Newbie
Can anyone tell me if this perfect lending scenario exists, or if it is a total pipe dream: 100% financing on a flip (including reno costs) for someone with no experience, so-so credit (650-700), and no cash or "skin in the game"? I don't have enough equity in my own home and would not be an owner/occupant of the deal property, so HELOC and 403k loans are out. But are there lenders (HML/private lenders)willing to take this big of a chance if the deal is really good? Let's just say, to make numbers easy, $100k purchase price, $50k reno, ARV of $200k (based on comps). Thanks in advance for any info!