Oftentimes, you can even extend the contract with the investor by weaving connections to get the house renovated and then help them find a potential buyer.Instead of selling the house for just 0,000 you might end up selling it for 0,000 therefore earning a hefty profit for you and your investor.
Having your own money certainly does help, but its not necessary.
If is that its very possible to It may seem obvious, but finding the right house to flip is the very first step.
As we have outlined previously, house flipping is simply a process where a person buys a house that is still requiring repairs and therefore can be bought and sold at a much lower price than its actual ARV (After Renovation Value).
For example, a house bought and sold for merely $150,000 could be flipped for $400,000 when all the renovations are done. Over time, you can save up cash and fix your credit - but you don't need that to learn how to flip houses with no money.
Getting out there and enlarging your social networks with face to face contacts through networking is very helpful when finding investors.
You may need to shop around and get a list of investors before you seal the deal.If they need to qualify for a loan, then this may slow down the whole house flip.Once you have secured the money with the investors cash for sale and rehab, you have the formula how to flip houses with no money.In essence, your partner reaps the financial rewards of the deal by chipping in the money, but not the time.When you first get into flipping houses it may be tempting to create a formal partnership with someone to start.Once you've settled with a property make sure to get the contract under the house.