I have a couple questions. I’ve been browsing the board and though there is some great information I haven’t found exactly what I’m looking for.
I have purchased a foreclosed duplex, remodeled it, and am now living in it, so i have some experience with purchases and remodels. However, now I’d like to start doing flips and cash out deals in-order to build up some cash for other business projects. I graduate in 2 weeks so I have virtually no work history that a bank, etc would find worthy so I am a bit unsure how to go about getting needed financing.
I have a couple of family members that are going to provide me with $100k in financing to get started but after looking at some potential properties this wont cover all the necessary expenses. What is the best option for additional financing for someone in my position? I don’t have much experience with outside financing because the few people that I have known to do a flip have typically used their own cash. Clearly I have the ability to put some skin in the game, which in this economic climate I know lenders of any type is looking for.
All advice is appreciated.