Looking for investor or suggestions to help start my first flip

Looking for investor or suggestions to help start my first flip

Member since 2023 · 8 posts · 2 votes

I am looking for an investor to help finance a flip in Massachusetts. I am a GC and have been working for a couple Investors over the past couple years. I have done 6 flips in the last 2 years, the flips were not in my name so some HMLdo not count them as experience. I plan on doing majority of the rehab myself and only needed a few subcontractors for different trades. I will manage the day to day and budget.

I have an LLC formed and around 25-30k in available funds. I am looking for an investor to help cover the upfront cost of purchasing and hard money upfront costs. I have a few properties I have already walked and looking to put offers in.

First deal is 400k purchase price 70k rehab with an ARV of 635k

Another deal is 359k 85-90k rehab with an ARV of 635k as well.

Feel free to ask me any questions or offer any suggestions on how I can get over the hurdle of 70-80k upfront cost between down payment and closing.

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  • New to Real Estate · NY · Member since 2023 · 9 posts · 4 votes
    3y

    Hi Shane! I am a private equity broker with a network of private lenders who may be able to help you with this. 
    I am new to this forum, just getting started in this particular area of real estate, but I would love to talk with you and see if we can find a lender for you! You can find my info on my website: 
    www.zenithprivatelending.com

  • Nate HerndonPro Member
    Lender · Springfield, MO · Member since 2023 · 277 posts · 195 votes
    2y

    Hi Shane, I have a lot of clients who utilize fix-n-flip programs that can finance 90% of purchase + 100% of rehab. It sounds like you may be looking for something that offers closer to 100% financing, which is available, but tougher to qualify for if your most recent experience cannot be verified through deeds in your name or your LLC's name.

    Programs are also available that finance your closing costs and defer interest payments until you exit the loan.

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