Affordable House Flipping with ZERO DOWN
Ever wondered how you can still be in the affordable house flipping business even though you are low on capital funds for investments? Well no worries because there is something called OPM which stands for “other people’s money” and is perfect for affordable house flipping. Basically a 3rd party lender or investor will spot you for the money and you work out a profit margin or interest on the money loaned for the remodel/down-payment.
There are three ways to obtain affordable house flipping via an OPM source, however there are more intricate and safer ways mentioned within Mr. Rehabs E-books…here are few to get warmed up on:
1) Hard Money Lenders
Hard money lenders are a good source for affordable house flipping and obtaining funding, but be aware that the loans are usually offered at high interest rates. Also note that these types of lenders will charge higher interest the longer you borrow so be sure only to use this option when making a guaranteed QUICK FLIP.
2) Business Partners
Teaming up with like minded investors is another way to split the costs. This has been a very common choice for many first entering the affordable house flipping since most find it as a safer and simple approach. Business partners come in many forms such as close friends, family members, or possibly an active real estate agent. A quick way to find an investor is to ask someone who is already involved in investing money for profit gain or has a large source of money that can be increased.
3) Private Money Lenders
Private money lenders are investors looking for the next big or fast profit turnaround and actively seek new affordable house flipping. Private money lenders typically have money in other big investments either work related, bank related, retirement related, or stock market related. The trick is to offer the perfect enticing interest rate that will turn their heads into focusing on your flip. Once again, if you offer a very high interests rate in their favor you have to save this method for the QUICK FLIP.