Realistically obtaining HML

[Account Closed]

Background: I am a new investor from Tampa, Florida (I just moved here 2 months ago to pursue REI endeavors) anxiously preparing to begin the process of sourcing + purchasing a home for a rehab + sell.

While I have virtually no RE experience, I have completed the RE Sales Associate coursework and have several years of strong experience in branding, marketing, and sales. My father, who is accompanying me, has 30+ years of commercial and residential development experience, with a knowledge and background that is simply priceless to me.

Challenge: Beyond my own research, I have been asking a load of questions and getting a lot of valuable insight from some experienced individuals. While I'm extremely confident in our abilities to quickly and in the best way possible rehab and sell a home, I am pretty ignorant to the financing process.

I have been fortunate enough to have absolutely no debt beyond a auto lease that expires in a year. Financial debt caused a great deal of turmoil in my family when I was very young, and my parents have done an excellent job of scaring me to death of owing anyone or any entity money. I've saved and bought things in cash.

With that said, obtaining financing for a flip project is damn near terrorizing me - though I know it's part of the process and has to be done.

Since I am brand new to this area, I still have a virtually non-existent network beyond the few people I've connected with here on BP and those involved from other places.

Question 1: While I understand that any lender - primarily HML, is looking at multiple factors when deciding on whether or not to approve a loan... REALISTICALLY, what can I do (beyond being an awesome person to deal with and knowing all about what I'm asking for), given my background and situation, to increase my chances of getting a thumbs up?

Question 2: I understand partnerships are about relationships. REALISTICALLY, are there individuals who partner with new investors, like myself, based on strategy and rapport alone?

I suppose a part of me thinks there is a 'secret' or something I'm missing.

Any insight, feedback, and direction gets lots of good mojo and love from me.

[Dawn Anastasi]

If you are afraid of debt, why are you looking into one of the more expensive forms of debt to fund your projects?