Flipping Question
I don't have alot of money, but I want to start flipping houses. A friend of mine informed me that if I had a credit score of 680+ I didn't need any. My credit scores are not quite high as a 680 + Is there any thing else I can do?
Look for investors, if yuo are knowledgeable and passionate you might be able to convince others to invest in you.
Is it true that banks will loan you money with zero down if they know your flipping the property??? I have a credit score of 745. I am looking into the idea of flipping properties. does the bank lend more according to the fact that your flipping it? Please let me know. I haven't heard this before, but then again, I am just getting started and I am looking for anything to help me out. Thanks a ton and have a great weekend!!!
JCross:
All you need money for is your earnest money deposit...
Find the deals, tie them up in escrow, collect your wholesale fee and assign.
Done deal!
Best Riches,
Jeff Adam
P.S.- If your FICO Score is about 720 you can get in easily with 100% financing. You do an 80% 1st and 20% 2nd. I personally like doing neg-am loans when flipping higher-end properties or interest only. For lower end, private investors work best....
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