I recently took a course & learned how to purchase properties off market at a fraction of value. I have a perfect strategy, i only need a private lender with full return in 6 months. Each thursday is an auction in my county & i can acquire a property for example for $10,000 thats valued at $47,000 or $32,000 wholesale. I know this strategic plan works i just need a lender to invest with me. Problem is no one wants to lend to new investor.
@Aquasia Hilton It's not that they won't lend to new investors, though some HML and private money lenders will, but it's a low return and also an evaluation of risk.
In general, properties at $10,000 aren't of interest for lenders, as we don't see a return on our investment and stand to risk a loss and end up with a low value property. We secure our loans against real estate and generally don't cover 100% of a project, as we look for investors to show dedication to the project so we aren't the only ones risking a loss.
It seems like your best bet would find local investors in an REIA looking to partner with you or secure a bank loan. Otherwise, I would suggest raising capital to purchase these properties with cash to flip them fast.