House Flipping Funding Methods

[Brandon Hall]

Hi everyone,

I was wondering if anyone could give me some information. I know there are several ways to fund flips, hard money, crowdfunding, personal money, investor, etc. I was wondering if anyone had any thoughts on using both hard money and a crowdfunding sight to fund the flip. I know most hard money lenders like that you have some "skin" in the deal, but I don't have quite enough saved up for that. My thought process was to fund the rest of the deal (like roughly 10%) of the cash needed with crowdfunding, but wondered if anyone had any thoughts on this, or better strategies for me.

Thanks!

[Lien Vuong]

I'm not sure that the HML would allow you to use funds from a Crowfunding site to be able to fund the remaining equity in this. Best option for you is to partner with a local flipper and manage the project and build equity that way. If you do have any at stake and are just playing with other's people money with limited experience, you basically have no risk, that makes people distrust in your ability to execute the plan.

I would reach out to some other members who live in the ME to see what the market is like and if your plan is viable. 

@Charlie MacPherson @Dan Weber