Funding for first flip - suggestions wanted! :)

[Laura Pruitt]

Hello BP family!

Laura & Rich here - we are new to BP and to real estate. We are located in Philadelphia and while we want to ultimately focus all our energies on buying/flipping properties in our neighborhood, we are open to properties all over the city and local suburbs. 

The main road block we are currently facing is the best way to find investors to help our first project get off the ground! We are having trouble with private/hard money lenders as we do not have a portfolio to show yet and because we will be flipping the house they want to see some work - any suggestions on a plan of attack to get our project off the ground welcomed! 

We do not want to sit on homes, we would like them flipped and on the market in 6-8 months depending on time of year, so we are a little apprehensive about purchasing a house to flip if we are not 100% sure on finances for renovations! 

Any/All suggestions welcomed! :)

Thanks! 

[Colin Smith]

Welcome to BP!

Find a mentor to team up with. Not only you will have their experience to walk you through the flip, but you can also use their experience to help you get hard money financing.