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Rehabbing & House Flipping

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Derrick Locke
  • Cleveland, OH
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any tips when doing a no money down flip

Derrick Locke
  • Cleveland, OH
Posted Jul 22 2019, 05:03

Trying to find a lender/investor is hard lol. any suggestions on good banks in Columbus Ohio

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Remington Lyman
  • Real Estate Agent
  • Columbus, OH
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Remington Lyman
  • Real Estate Agent
  • Columbus, OH
Replied Jul 22 2019, 07:00

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

  • Real Estate Agent Ohio (#2019003078)

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Brian Ellis
  • Rental Property Investor
  • South shore, MA
1,644
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Brian Ellis
  • Rental Property Investor
  • South shore, MA
Replied Jul 22 2019, 07:42

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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17
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Derrick Locke
  • Cleveland, OH
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17
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Derrick Locke
  • Cleveland, OH
Replied Jul 22 2019, 09:30

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

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Austin Steed
  • Real Estate Agent
  • Columbus, OH
610
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548
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Austin Steed
  • Real Estate Agent
  • Columbus, OH
Replied Jul 22 2019, 21:12

@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
71
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116
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BJ Everson
  • Property Manager
  • Columbus, OH
Replied Jul 23 2019, 13:02

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.