4 Ways to Flip Houses With No Money in IN

Have you always wanted to get into the house flipping business but had no idea where to start without any money? Don’t worry, people do it frequently!

Many people are able to begin with nothing and build their own real estate empire from the ground up! In this article, we will discuss 4 ways to flip houses with no money in IN.

4 Ways to Flip Houses With No Money in IN

You probably think this sounds impossible, but people do it every single day. If you want to flip houses with no money, you will need to do your homework and educate yourself on the process and what methods of funding are going to be the best choice for YOU!

You should begin with a business plan outlining exactly how you intend your house flipping venture to work.

Find Some Partners

Find Business PartnersPonder who you know who may want to invest. Even think about people you don’t know, but could pitch your investment plan to. This could be a friend, family member, business associate or possibly another real estate investor who would be willing to partner with you.

Once you have shared your strategy with your prospective partner, you can arrange for them to finance the deal, while you do all the work to get the job done.

Loans – Hard Money & Private

Getting a loan, whether hard money or through a private lender can be a great plan for getting the cash you need to make a property investment. A private money loan is a great method as there are tons of people out there, with money just sitting in their bank accounts, waiting to invest with you.

They just don’t know it yet. If you can present a tangible plan and reasons why they should invest with you, you will be able to find a private money lender who is ready to invest with you.

A hard money loan is also a good way to get the cash you need rapidly. However, the problem with hard money loans is that they most times come with a high-interest rate as well as points. Because of the high-interest rates, tough money loans are great for a property you know you can flip quick.

They allow you to get the money you need rapidly, just ensure you pay it back as soon as possible.

Use What You Got

Even if you don’t have an abundance of cash at your disposal, you might have other assets you can use to secure the financing you need.

You can use a home you own, your IRA or retirement accounts and even your 401k to help get a line of credit. If you tap into any of these accounts for a down-payment, beware of the associated risks, and tax penalties for pulling out money early.

Mix & Match

Even if you can’t get all of the funding you need using the methods above, you can mix and match the methods to get to your goals.

Maybe a rich aunt will loan you part of the down payment, and you are capable to pull the remaining amount from an IRA. Or maybe you partner with an avid local investor, only investing a small amount you borrowed through a hard money loan.

However, you choose whether to invest, do your research and keep in mind all of the potential streams of credit that might be available to you!

Are you ready to begin your adventure flipping houses? Our awesome team can help you get started today! Click here to fill out our form, or give our office a call today! (260) 220-8715

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