Purchasing Flips w/ No Money Down

[TJ Peterkin]

Greetings BP in Raeford, Ft. Bragg, Fayetteville, NC area, Any one ever purchased a home with no money from their pockets and flipped it then made a profit? I would like to know about your experience.

[Andrew Michael]

I have done two no money down deals.  1 was a flip 1 was a buy and hold for a 7 unit building.  I will say that in both cases, I did not set out to find "no money down deals".  I think if finding a no money down deal is your starting objective its going to be a very difficult proposition.  Instead, I found deals that would work under several creative financing scenarios and once I had them under contract I negotiated the best terms possible.  It was a product of persistence, luck, timing, negotiating, and not being afraid to ask for what I wanted.  If you are going to pursue no money down financing you need to have a strong case for what you bring to the table and why you will not walk at the first sign of trouble.