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Posted over 14 years ago

Fix and Flip first deal with 10k to invest.

Looking to lock up first property for fix and flip.  For those out there, if you had 10k to start your journey, how would you structure your first deal?

ARV- 265,000

Purchase- 143,000

Repairs- 27,000

Smaller banks do require, personal credit, since an LLC establishment is not in business long enough, however, my credit is not the issue, but i do own a house, so the liklihood of payment in there eye's is not worth the investment, even with a line of credit.  I was looking for an option of bridge loan? Hard money loan lenders, do require a minimum of 20% of funds up front in order for them to struture your deal.  No matter what the profit margins look like.  I'd like to stop spinning my wheels and get my first deal under way.  Any information is greatly appreciated.

 To your success,

CD


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