Financing for flipping houses, Help!

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AmadorHe
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Joined: Fri Jul 13, 2012 10:28 pm
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Financing for flipping houses, Help!

Postby AmadorHe » Fri Jul 13, 2012 10:55 pm

After 25 years in Real Estate and having gone through not only the toughest financial cycle but divorce and a college kid's financing, I've become keenly aware that my career has not done me justice.

Just before the Real Estate market crash I had come to realize that although I love my business I was not building wealth and a retirement nest egg; I had made the decision to focus at least a portion of my time to build some residual income. It occurred to me that there was no better way but to do this in my current arena.

I love helping people buy and sell properties; I also love fixing them up to sell. I have a good eye for improvement to market a home and doing it in a financially feasible way.

My answer became clear. Why not flip a few homes a year? Lack of funds, that's why!

Banks will lend to small business but will not lend on speculative type ventures. So this is my dilemma.

How do I find the funds to invest to purchase properties and flip them? I have excellent credit, but remember my current financial position is that I'm personally tapped out on personal credit. I may have the ability to handle the repairs and improvements needed after the purchase but not the purchase itself.

I'm looking for some new ideas on where to find these funds to work with; am looking for ideas outside the Real Estate investment world.

Any ideas?

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