I've worked for contractors that provided services to ppl that did the fix and flip method. For years I worked, asked questions and watched them make a lot of money. I recently met a guy through a friend. He has really bad credit and doesn't use his money, yet he gets loans to buy and fix properties. He told me that your credit and finances don't matter. He won't tell me how he does it. Is it true that a person can get into the fix and flip game with absolutely no money and bad credit? If so can anyone tell me exactly how to do this?
I've worked for contractors that provided services to ppl that did the fix and flip method. For years I worked, asked questions and watched them make a lot of money. I recently met a guy through a friend. He has really bad credit and doesn't use his money, yet he gets loans to buy and fix properties. He told me that your credit and finances don't matter. He won't tell me how he does it. Is it true that a person can get into the fix and flip game with absolutely no money and bad credit? If so can anyone tell me exactly how to do this?
He has a Hard Money Lender or a Private Money Lender. That means he has a friend or contact that provide all of the money and he does all of he work. He probably gives the lender a part of the profits. Perhaps this person is a relative, a local doctor, dentist, businessman that likes to invest money. Or it could be someone that lends money as a business.