There is a home Id like to buy fix and flip, the home is 150k but it was a foreclosure so the previous owners gutted it. I estimate repairs to be approx 70000 after repair value should be aprox. 380000 according to recent sales. However I have no money to finance the deal, does anyone have any ideas on how to finance this deal.
Although you need money and/or credit to do deals, it does not need to be you own money or your own credit. Without your own resources, partner up with another party who has funding to share in the deal. This could be a bank, a private investor, etc.
You bring to the table your willingness to find, repair, and re-market property. There are plenty of folks with the money who know nothing about real estate or they do not want to roll up their sleeves to do the work themselves.
This would be a perfect match. Ask and you shall receive…prophetic…and it works. Start talking to everyone you know about this transaction and let them know you seek a funding source who has money or credit to share in this deal…someone will say yes!
Remember, Col. Sanders, at the age of 65+, asked over 1000 people to use his recipe in their chicken restaurant and share in the increase of business before someone said yes. His estate is still earning profits from KFC, long after his passing.
Share your excitement for the deal…also find another (less expensive) deal for an alternate choice for your prospective partner to say yes to when presenting.
Hope this helps.