Updated over 3 years ago on . Most recent reply
I’m about to finish my first flip, But!
Hello Everyone,
I’m about to finish my first flip, but I'm short on cash now, and I want to continue finding deals, but don't have too much cash left. I use hard money loan for this flip with a 10% down. I know I can use private money but don't have those contacts yet.
Now what is the best way to fund another deal during the selling process of my flip, without me putting 10% down.
Thank you!
Most Popular Reply
"I know I can use private money but don't have those contacts yet."
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You just named your solution: Get those contacts. How do you get those contacts? Track record. One profitable deal at a time, until you reach a critical mass, where someone is willing to back you BECAUSE "you are you." So develop and demonstrate your judgment.
It is not important to get big. It is important to start.
Musicians identified the problem and the solution centuries ago: "Pay your dues."
The rest is detail.
------------------------------------------------------------------------------------
You just named your solution: Get those contacts. How do you get those contacts? Track record. One profitable deal at a time, until you reach a critical mass, where someone is willing to back you BECAUSE "you are you." So develop and demonstrate your judgment.
It is not important to get big. It is important to start.
Musicians identified the problem and the solution centuries ago: "Pay your dues."
The rest is detail.