How To Flip Houses With No Money
Learning how to flip houses with no money can be accomplished by wholesaling real estate. Once you understand how to wholesale real estate, you will be able to start renovating and flipping houses with no money or credit. The truth is, when you are talking about flipping houses, you will always need access to some money or someone with money. But if you learn how to wholesale real estate, you can generate large amounts of income with absolutely no money or credit. Once you’ve completed a few wholesale real estate deals, you can then use that money to start flipping houses.
Flipping Houses vs. Wholesaling Houses
I get asked this question a lot, “Do you prefer flipping houses or wholesaling houses?” The answer is simple, I prefer to wholesale houses! Flipping houses requires a lot of capital and a lot of time. As a matter of fact, I can successfully find and wholesale 5-10 houses in the time it takes to flip one home. Don’t get me wrong, I enjoy flipping houses and I make a lot of money doing it, but it takes a lot more work than finding and wholesaling real estate deals.
How To Flip A House
If you would like to learn how to flip a house, you must have multiple things in order first. The very first step to flipping houses is having the ability to find a “below market value” property for sale. Assuming you’ve read our blog post on “How To Find Real Estate Wholesale Deals,” you should now be finding multiple deals each and every month. Next, you should have a team of contractors in place willing to start renovating the property immediately. Once the renovating process is complete, you must list the property “for sale” and start advertising to potential buyers. Once you’ve found a buyer, the property will take anywhere from 30-45 days to close.
Can You Really Flip Houses With No Money?
Can a person with no money or credit really start flipping houses? Technically, yes, you can flip houses with no money or credit – but the question and answer are both a bit deceiving. There are a few ways a person could technically flip houses with no money:
1) Find a Partner With Money
2) Find a Hard Money Lender
3) Find a Private Money Lender
Finding a partner with money is generally the easiest of the three options. A hard money lender is going to ask to see documentation and will probably run your credit. A private money lender (angel investor) will most likely ask about past deals you’ve completed and request documentation showing your “Return on Investment” (ROI).
How Can I Start Buying and Flipping Houses?
In my opinion, the best way to start buying and flipping houses is to begin wholesaling real estate. Once you learn how to wholesale real estate, you may find that flipping houses is no longer as appealing as it once was. As one of the top real estate wholesalers in the United States, I view flipping houses as nothing more than a second option (that’s how much money I make wholesaling real estate deals). And if you do decide to continue flipping houses, you’ll find that wholesaling real estate can be a great way to earn the money you need to flip houses.