What About The Money Issue???
I just became a statistic and had to close my restaurant. I used up virtually all of my capital and my credit score is 570.
So, no money of my own (maybe 2-3K) and a mediocre (at best) credit score.
How can I obtain hard money to begin flipping homes?? Any help is greatly appreciated!
despite what my wife might tell you; every time i did not succeed in a business venture made me a little 'smarter'.
Your cash available and your score won't affect you as much in flipping as your ability to talk to people in a bad situation (you might be able to sympathize due to your situation). If you can present yourself in a knowledgeable manner and prove to the homeowner that you can indeed help them out of the situation they face; you don;t need any money nor your own credit.
I'd strongly suggest you consider investing in some Sub2 information; since John**cash**Locke's books is so highly praised here, I would suggest starting with that. Any time you can buy a property with virtually none of your own money will help you - but from my experience, unless you sell right away you will be a minimum of 6 months from being able to draw on any equity.
To conclude, print up some business cards; make some lawn signs; and wake up with a smile - then go talk to the homeowners facing foreclosure and if you can;t figure out a soluttion that will also make you a buck, write up the deal here and someone will certainly give you advice.
Good luck!
Feltman,
Thank you for your advice and your positive attitude!!