Updated over 9 years ago on . Most recent reply
Financing First Flip with Little Money
We have found a house! We made an offer but after hearing the FHA loan isn't going to work for flipping we are at a dead end. We did research on the different options, and we just want to get some insight as to what we should do. Hard money lender is an option but if the house doesn't sell, we are in trouble. Conventional loans with around 15% down payments aren't going to work. We were thinking about ARM but we just aren't sure. Anybody has some wisdom to shine our way for our first flip.
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If you believe there's a chance it wont sell then why would you want to flip it?
Consider alternate exit strategies.