I am wanting to buy a house, flip it and sell it. This is my first time doing this adventure and it is already stressing me out! Right now I am at a cross road. I have no money to put down 10, 15 or 20% on a house. I need to know what my options are, if there are any. Is there any way for me to get a loan that pays for the mortgage and repair expenses at 100% or how do I find a private lender willign to take a chance on a beginner (I am in Ohio by the way)?
Someone please help me…I don’t know what to do! ???
Well, I found two houses that are completely opposite of each other…one is about 20k and its really run down and would qualify for the 203k loan. It is really close to a college, however I am unsure of how nice the neighborhood is. Its one of those neighborhoods thats mixed in with the good and bad. Also, this is considered a historic house. However, I don’t know if I should start out with such a huge project my first time. The second house is about 60k, in a decent neighborhood and if i fix it up right by upgrading the kitchen, bathroom and landscaping then i could probably resell it for about 120k, somewhere in that area. Both houses are in the Columbus, Oh area. Is this the type of information you are looking for?