Ways to Flip Houses With No Money

Are you interested in starting a career as a real estate investor? I'm sure you have seen the shows on HGTV, like "Flip or Flop," that make it look easy buying houses with cash , renovating, and flipping for a profit. You might be wondering how you can get started if you don't have the money to buy your first investment property. In this article, we will discuss four ways to flip houses without any money of your own.

Find Business Partners

Think about who you know and who may want to invest. Even think about people you don’t know, but could  pitch your real estate investment idea to. This could be a friend, family member, business associate or possibly another real estate investor who would be willing to partner with you.

Once you have shared your strategy with your prospective partner, you can arrange for them to finance the deal, while you do all the work to get the job done.

Loans – Hard Money & Private

Getting a loan, whether hard money or through a private lender can be a great strategy for securing the cash you need for your first property investment. A private money loan is a good option, as there are many people out there, with money just sitting in their bank accounts, waiting to invest with you.

If you can present a tangible plan and reasons why they should invest with you, you will be able to find a private money lender who is ready to invest with you.

A hard money loan is also a great way to get the cash you need fast. However, the thing with hard money loans is that they often come with a high-interest rate as well as points. Because of the high-interest rates, hard money loans are great for a property you know you can flip fast. Just ensure that you can pay it back as soon as possible.

Use What You Have

Even if you don’t have an abundance of cash at your disposal, you might have other assets you can use to secure the financing you need.

You can use a home you own, your IRA or retirement accounts and even your 401k to help get a line of credit. If you tap into any of these accounts for a down-payment, beware of the associated risks, and tax penalties for pulling out money early.

Find out More

Head over to the original article to find out tip #4:  http://www.webuyhousesfastsacramento.com/ways-to-flip-houses-with-no-money-in-california/

However, you decide to invest, do your research and keep in mind all of the potential streams of credit that might be available to you!

Are you ready to begin your adventure  flipping houses?