I need someone’s help telling me a way I can find a lender for a small group of three people who are planning to flip and rent homes. Can anyone tell me if there is anything out there that does not have a real high interest rate, or a loan that needs to be repayed immediately? I am new to this arena and just to a little help up the first step.
Thanks.
Howdy:
You really do not need much to start. Find a super deal and get it under contract for a hundred or so earnest money and resell the property to another investor for a profit. I am closing on one tomorrow that was a good deal for me but I could not do it without a partner. I contacted several potential partners and was offered a $3000 bill just to sell the contract. A short profit as I wanted more but it will pay the mortgage for April 2004.
Good luck and thank you,
Ted P. Stokely Jr
11505 Sw Oaks
Austin, Texas 78737
512-301-9171 home
512-587-6177 mobile