any tips when doing a no money down flip

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Brian Ellis
Rental Property Investor · South shore, MA · Member since 2017 · 1k+ posts · 1k+ votes
7y

Finding a lender/investor to put all their eggs in a basket, with somebody who has little to no experience just wont happen. How much experience do you have? The easiest way to do a low money down "flip" would be househack a house that just barely qualifies for an FHA loan, and fixing it up yourself over time. FHA is 3.5% down, and you can always ask the seller to cover closing costs.

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  • Remington LymanBusiness Member
    Real Estate Agent · Columbus, OH · Member since 2017 · 6k+ posts · 7k+ votes
    7y

    @Derrick Locke I have a list of lenders that I use. I can give you my list so you can reach out to them.

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  • Brian Ellis
    Rental Property Investor · South shore, MA · Member since 2017 · 1k+ posts · 1k+ votes
    7y

    Finding a lender/investor to put all their eggs in a basket, with somebody who has little to no experience just wont happen. How much experience do you have? The easiest way to do a low money down "flip" would be househack a house that just barely qualifies for an FHA loan, and fixing it up yourself over time. FHA is 3.5% down, and you can always ask the seller to cover closing costs.

    1Reply
  • Derrick Locke
    OP
    Cleveland, OH · Member since 2019 · 17 posts · 5 votes
    7y

    @Remington Lyman thank you man that would be great gonna pm you

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  • Austin Steed
    Real Estate Agent · Columbus, OH · Member since 2016 · 593 posts · 664 votes
    7y

    @Derrick Locke

    Heartland and Fahey are some local banks that take a solid relationship into account for lending. Might be good to start building a connection there

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  • BJ Everson
    Property Manager · Columbus, OH · Member since 2017 · 123 posts · 76 votes
    7y

    ReCasa Financial Group is a good hard money lender in Columbus. Hard money is always expensive but they do allow you to not have a lot of your money in the deal as long as you own a personal residence. 

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