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Is there a pro online who can explain the best way to access startup capital for funding my very first fix and flip? The "no money down" theory is not proving to be true so far. Up to this point, it's all about "skin in the game." What do you suggest?
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Yep, No Money Down for a fix and flip is pretty tough to do especially in today's market. Most people are talking about being a bird dog and wholesaling as a way to make money in real estate with no money down. When the market slows down then there will be a lot of opportunity for no money down deals in the meantime Bigger Pockets website is a great place to start when looking for a lender. Click on the Marketplace tab and then hit the Hard Money lender tab. There is a lot of lenders listed on there and even if they aren't located in your state some will still lend in your state. Most of them lend based on the deal and not the borrower, typically up to 80% of the purchase price at 12% and 2-4 points for 6 months. If you want help with terminology or other tips shoot me a message. Hope this helps.