13
Sep
08

Where to Find the Money To Flip That House

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By The Global Warming Fact Finder
Categories: Financing
Tags: , , , , , , , , , , , , , , ,

I am frequently asked, “Where can I get the money to do a Real Estate Flip?” There are a lot of people out there that would like to try to Flip That House, but they don’t even try because they either don’t have the money and/or don’t think they can get financed. But the truth of the matter is that you don’t need any of your own money to Flip That House and you don’t need good credit. You can get the money even if you have BAD CREDIT.

To begin with, there are lenders out there, and I am not referring to conventional lenders, that will base their determination on the quality of the deal and the asset (property) itself. Your credit does not even enter into the equation. If they can see value in the deal and that money can be made by not only the borrower, but themselves, they will be more than willing to provide the money to complete the deal. These lenders have been referred to as Hard Money Lenders. But there also Private Money Lenders who will lend you money every day of the week based on the merits of the deal.

Now I must admit that there are equity based lenders out there that do require a minimum of a 620 credit score before they will lend the money. But that is not true of all of them. There a plenty of others who are strictly value based.

The first thing you will need to do is acquire a property and enter into a deal that follows the 70% rule. We discuss the 70% issue in more depth at Flip That House Website, but simply put it means that the purchase price and cost of repairs on the property must be no more than 70% of the ARV (After Repair Value).

Some hard money lenders, because of the housing meltdown, are now requiring a 10% deposit. But I will show you, in future posts, how you can get that money too, so you don’t have to use your own money. So stay tuned and continue to visit www.FlipThatHouseWebsite.com for more tips on how to Flip That House.

32 Responses to “Where to Find the Money To Flip That House”

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  1. 1 fat loss 4 idiots October 9, 2008 at 10:53 am

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  2. 2 Tina Thompson November 8, 2008 at 10:51 am

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  5. 5 andreea January 6, 2009 at 11:08 pm

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    :)

  6. 6 Hellen CLARK March 30, 2009 at 5:22 pm

    I was just on your site and wanted to say I like what you are doing. Keep up the effort and keep the posts coming.

  7. 7 Helen August 22, 2009 at 2:46 am

    Thanks for the information. I love finding a site that provides real information that you can use. Good luck with this.

    As with my site http://theinvestblog.com where I try to provide real information on investing, this can be useful to investors.

  8. 8 Егор Макаров April 22, 2010 at 10:29 am

    Я тоже временами такое вижу, но как-то раньше не придавал этому значения.

  9. 9 Владимир Крылов April 24, 2010 at 2:14 pm

    Да уж… Много комментариев и почти ни одного по делу :)

  10. 10 нeвидимкa April 27, 2010 at 12:59 am

    Данной информации, уверен, и так вполне достаточно, чтобы сделать вывод, как не надо делать.

  11. 11 BabanQurban May 4, 2010 at 4:55 pm

    Конечно, как люди говорят, любопытное рядом! :)

  12. 12 Delta Neu May 10, 2010 at 7:03 pm

    их больше было О_о

  13. 13 ранетки May 11, 2010 at 2:28 am

    думаю стоило бы выделить некоторые моменты и рассказать подробнее..

  14. 14 кадетство May 11, 2010 at 2:39 am

    Большое спасибо, прикольно написанно “креативно”

  15. 15 универ May 11, 2010 at 3:14 am

    попробуем понять между строк..

  16. 16 мент May 11, 2010 at 3:27 am

    Супер!!!

  17. 17 дочки матери May 11, 2010 at 12:15 pm

    С чистым юмором.

  18. 18 маргоша May 11, 2010 at 11:41 pm

    Очень интересно… если бы еще и правда была))

  19. 19 универ May 12, 2010 at 12:08 am

    Кто тута? Все верно, а как же иначе?

  20. 20 Кадетство May 12, 2010 at 12:23 am

    просто афигенно!!!!))

  21. 21 Барвиха May 12, 2010 at 2:39 am

    ha ))

  22. 22 лера ранетка May 12, 2010 at 2:49 am

    Делать добро дуракам - все равно что подливать воду в море. - М. Сервантес

  23. 23 Любовь May 12, 2010 at 5:02 am

    класс)мне понра)особенно!

  24. 24 Аня Руднева May 12, 2010 at 5:15 am

    Я отметила отлично :) нацепила на голову тыкву и бегала по улице.

  25. 25 Сериал ранетки May 12, 2010 at 5:44 am

    Пробуйте, попытайтесь))

  26. 26 BratMamedGunes June 12, 2010 at 12:17 am

    Ну честно говоря, многое из того, что Вы пишете не совсем так… Ну да ладно,не важно :)

  27. 27 Познание June 18, 2010 at 6:46 pm

    Интересно. Думаю многие будут не согласны..

  28. 28 Модель June 19, 2010 at 8:43 am

    Хм… Читаю и понимаю, что не фига не понимаю о чем речь:)

  29. 29 BepcaджE July 25, 2010 at 12:27 am

    Приятно конечно думать, что остались действительно блоги в этой мусорке рейтинга Яши. Ваш - один из таких. Спасибо!

  30. 30 пpoблeм July 27, 2010 at 8:29 pm

    Круто, хотя не мешало бы чуть подетальней написать, а то есть несколько непонятных моментов :)

  31. 31 ankostey July 31, 2010 at 4:10 pm

    Занятно! Вообще, поразительно видеть то, как в считанные часы совершенно практически без повода из пальца высасывается подобный “новостной сюжет” и начинает широко гулять по блогам. :)

  32. 32 http://sterilzh.ru August 14, 2010 at 9:45 am

    И как автору не влом столько времени на написание статей тратить, мы конечно очень благодарны, но вот я на такой альтруизм не способен :)

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