Fix and Flip Homes With No Money Down

https://www.youtube.com/watch?v=9vtSOIoLJ74

I started in this business as a real estate agent and after a year or so I eventually lead myself into the investment side of the business. Last year I did 4 successful fix and flips all using $0 of my own money!

Working with investors and partnering has become one of the most important aspects of business I've learned so far. Partnering up with people is huge! So many people are willing to partner up with you. You just have to be networking and looking in the right places. So now that you've figured out "how to flip homes with no money down" using partners let me talk to you about some of the other not so obvious ways.

The first way would be to do what is called an owner carry. Now when I say no money down I'm saying that its possible with this method but not likely. When you choose to have an owner carry the property that essentially means the owner is the bank. Essentially they are carrying the mortgage so in most cases some people will put down a down payment and work with the owner to make payments. The owner will usually charge an interest rate. This method is great for people who don't have great credit but money to put down. Heres a good rule of thumb that a lot of people use when doing owner carry deals. 5% down payment to the owner, 5% interest rate, and a 5% balloon. if you don't understand what a balloon is. Do a little research on financing. Thats a big topic for another day!

The second way to fix and flip a home with no money down is to partner like I spoke of earlier. This is by far the best way for beginners to get into the business. Start going to your local REIA meetings and look on meet up for real estate investment related meet ups. There are so many people in this business looking for someone to add value to their business. Think of the ways you can add value that aren't money to a partnership. Maybe you have extra time or knowledge on how to get something done. How I partnered with no money down is by offering cold hard sweat equity plus I have a real estate license. I offered to be on site everyday to check out the project and manage the contractors! To a lot of flippers this is a HUGE value add! Dealing with laborers is one of the most frustrating and skilled parts of the business believe it or not.

Start going to your local real estate investor meetings. ABN (always be networking) and start to find out how you can add value. Then all you need is a deal!

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