Payment after I flip the property. 100%Ltv, no credit check, and is nationwide. Any help would be appreciate
anne
You’ll probably find a loan meeting that criteria about the same time that pigs grow wings and fly.
Sounds like “guru secrets” to me…
the answer to your questions is companies that deal with one day funding. However, you will have to have a pre-approved buyer.
It depends on what type of flip. If it’s a wholesale flip than yeah 1 day funding can be used but if it’s a rehab flip than no that won’t work since they only fund 1 day hence the name one day funding and they aren’t going to wait until you rehab flip neither.
And to answer the OP’s question, you aren’t going to find hard money lenders that will do what you want if your goal is rehab flip. You have better luck getting Megan Fox to go out on a date with you than to find a hard money lender that will do 100% LTV,no credit and will wait until you flip to receive their dough.
Once again we have someone asking for 100% financing. For the noobs out there reading this thread let me say it again. 100% financing is from a LENDER is gone. And before I get 20 responses that say “hang on to your dreams” and “don’t let someone tell u it can’t be done”. There are exceptions to this rule though… such as owner financing and private financing. Talk to family members. Talk to people u work with. Talk to your CPA. There is money out there just not from lenders. At least at 100% with no credit check.
Are there Hard Money lenders out there for Mississippians? If so, who are they?
Have you tried the Hard Money Lenders list on this site? http://www.reiclub.com/hard-money-lenders.php
I know/knew many of the lenders on this site, its highly unlikely anyone will do what this person wants. 100% with no fee’s and no credit check? unlikely. Chris brings about a great point. Start looking to family and friends as lenders are looking at credit. Even those of us who are not score driven.
Anne
You are asking the right question. How can I make an investment with as little of your own money as possible. The answer to getting 100% of purchase price financing is going to depend on what area of the country you live in and what your local hard money investors are willing to do.
I am aware of Hard Money lenders in Utah, Colorado and Arizona that are willing to do;
100% financing
No monthly payments
No Credit Score requriments
up to 65% LTV (after repaired value)
Once you find a great deal you will find the money.
The other way to find money is rather than going to a hard money lender and asking for a loan. Go to them and tell them to buy the property in their name, Have them give you an option for 50% above a certain strike price. Then you do the fix ups and get the property sold Basically you will split the profit 50/50 but the Hard Money lender will have the property in there name.
There are lots of ways to get 100% finanacing. Keep looking you will find the way.
Happy Investing