Your name saw this post on The ActiveRain Real Estate Network and thought it might be of interest to you. Please see the link below to review the post.
How to Get the Real Deal with 100% Texas Fix and Flip Loans
Getting 100 percent Texas Hard Money Loans for flips might seem as difficult as catching a unicorn, but in reality it isn't. Getting such a deal just requires a little out of the box thinking and some negotiation on your part.
If a lender is offering 100 percent financing, you have to ask, 100 percent financing for what? Few if any lenders want to take on 100 percent of the risk by offering a true no money down deals up front. They will either fully cover the cost of purchasing a property, or rehabbing it, but not both.
You want both these costs covered, so what can you do so you can pay nothing for your next flip?
To cover both the cost of purchasing and rehab you need to work within the terms initially offered by your lender.
Simple tactics to get "real," 100 percent Texas Hard Money Loans for your next flip:• Lower your initial bid: If your lender is offering 100 percent financing on the initial purchase price, lower your initial bid, so that your loan can pay for the rehab costs as well.
The less you pay for a property up-front, the more financing you'll have on hand for repairs and the ... more
Are you on The Rain? Grow Your Network!