Any reccomendations for private money that isnt a scam

[Khari Harper]

I have worked out all of the financials to a deal I currently have under contract. Can anyone recommend a private lender that is asset based for 100% finance ? If you think it's impossible no need to reply or say " You need skin in the game." I currently have two lenders at 100% financing with an interest rate at 14% and 4 points. After doing the math the deal is still profitable I would walk away with about $35,452. If you can help that would be great. I am even willing to take 14% and 3 points! I will refinance this 3 family in a couple of months. So I already have my exit strategies. If the breakdown/financials are needed + rehab estimates I can provide that as well!    

[Kerry Boyle]

Originally posted by @Khari Harper:

Thank you for the advice! Yeah I was certainly looking to make sure I didn't have to pay anything up front besides appraisal. I found a lender. Just have to pay for appraisal and closing costs at 8.5% & 3 points. I guess I will find out at closing how legit they are. 

Originally posted by @Nghi Le:

@Khari Harper

100% Financing at 14% and 4 pts isn't bad, especially if you're a 1st-time flipper.

For people have who some experience, I've seen as low as 8%, 2 pts, but that's at like 90%-95% LTC.

Just make sure it's truly 100% financing.  Ask how much cash needs to be brought to closing, and how much cash do you need to have in reserves to qualify for the loan.

And if they ask you to pay any money up front for something other than an appraisal ($600 max), run away.

8.5% interest in New Jersey? Please let me know the lender. I haven't seen anyone going that low, so be sure not to pay any big fees up front. Also ask them for two title companies they closed deals with in NJ. Call the title companies to ensure they actually closed.