Newbie Financing
I am looking for some suggestions about funding. I have approached the process of rehabbing properties very methodically and and now at financing. i have tried over that last few weeks to get appproriate financing but have failed. I have very good credit and have a few hundred dollars saved. I am looking to get very specialized financing for rehabbers(i don't have the money for repair cost). can anyone offer any suggestions. The realtor that i am working with wants me to have my financing together before we begin. i agree with him. The financing that he has suggested would have required me to make large cash downpayments. I just dont have alot of money to put down. I have posted a similar message before and i am looking for new suggestions. By the way for those beginners out there I just finished reading Buy, Fix, Sell. I recommed it to anyone. Help please 
If you are limited on personal resources...credit cards, etc...
Go with hard money...
If you got the contacts and the ambition... Private Investors....
Since you are limited on cash and downpayment funds. I would stay away from properties that need rehabbing until you can get a good cash flow. Try finding foreclosed properties through realtors, sometimes you can find real good properties way below market value that doesn't need rehabbing just minor cosmetics. I just purchased my first investment property through a realtor. It was a bank-owned foreclosure selling for $49K and it appraised for $71 and only needs minor cosmetics. Hope that helps.
Hey I am newbie investor who is closing on a property that I will buy for $70 that appraises for $94K. I found this deal by word of mouth. I look in every paper that advertises houses and let everyone I know, know that I am buying houses and fixing them up. If the house is not in too bad condition financing will not be a problem with your good credit. You can also turn these quicker because you will fix them up quicker. I have ran across about 3-4 other deals where houses could be bought for 10-17K below market value. Go to your local newspapers real estate site and type in the keyword TLC, motivated, seller, or some word that is synonomous with deals. I wish you well.
This advice is great. Are there any specific rehab funding company that others have used that have been reliable?
I also forgot to mention that I have about $3000 in avaliable credit. can this help me get financing