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8 min read Nov 23, 2022

How to Flip Houses With No Money

How to flip houses with no money

House flipping is purchasing run down properties in terms of financial troubles or demeanor and reselling them after making them appealing.

This is an entertaining task but to start with no money is going to take alot planning. But there are plenty of options that can get you there, if you show your worth.

What is House Flipping?

Flipping or house flipping is a business strategy where an investor buys a property, fixes it up, and resells it at a profit.

Investors look for distressed properties to fix and flip. These are the properties the owners want to sell without any changes, are up for auction, or are pending foreclosure. Such factors make properties an asset for home flippers.

» How to Flip a House: The ultimate guide you need!

How Does House Flipping Work?

Find a distressed or run-down property, this is usually the first step in house flipping. Since the property is less than ideal, there is negotiation to be done and a price to settle on.

Renovations are the next step, note down and work on the ways the property can be enhanced and made better. But always remember that the goal is to make a profit, do not make more changes than required and incur a loss.

Lastly, once the repairs are done, calculate a list price that is profitable and find a buyer to make a sale.

» Pros and Cons of House Flipping: Still thinking if house flipping is a good idea? Check out this list of pros and cons.

How to Start Flipping Houses With No Money

1. Private Money Lenders

One of the best ways to flip houses with no money is to approach private lenders who will lend money for interest. Many private lenders look for opportunities to invest in real estate and will agree to fund a house flip.

They are the easiest and quickest method to get cash in your hands despite some of the interest rates being high.

2. Hard Money Lenders

Hard money lenders are investors who provide funds for high-interest rates. They provide short-term loans so as to not be confused with traditional lenders, they operate a lot like private money lenders but without any guidelines.

They are a great option for home flippers who want more funds for house flipping.

3. Wholesaling

Wholesale real estate is another good way to start flipping with no money. But, to do wholesale real estate, a person needs to have a reliable network of investors to engage in the transaction.

End buyers are usually real estate investors who don’t want to waste their time looking for a cheap property or go through the sale procedures. The connections made from wholesale real estate can benefit in house flipping.

» How to Wholesale Real Estate: Learn how to wholesale real estate with this guide.

4. CrowdFunding

Crowdfunding is a form of investment where multiple investors fund parts of the process. A house flipper has to find multiple investors to pitch the investment opportunity to people.

Crowdfunding is a good option for flippers who can attract investors with their home-flipping venture.

5. Live-in Flip

When you get a property as your primary residence you can help utilize government mortgage programs like VA loans or USDA loans. And while you live there you can renovate in parts which will give you time and help in cost cutting.

Since you live there you will have a deeper understanding of the place. This is definitely one of the best options for beginners in house flipping as you can take your time to get into the process.

How Much Does it Cost to Flip a House?

A seller pays 10% of the purchase price for the overall fix and flip process. Flipping business does not have just buying cost and fix up cost. Here are some costs that you will come across as part of the house flip:

  • Closing costs
  • Property taxes
  • Down payment when you buy a property
  • Insurance fee
  • Utility cost
  • Cost for marketing
  • Realtor fees

How to Sell Your House – Resources for House Flippers

Sell a House by Owner

If you want to sell a house FSBO, list on MLS using Flat Fee MLS listing services. This way you save more money at the end of the house flip.

» How To Sell A House By Owner: Know about the Ins and Outs of Selling a House.

Sell Your House Fast

One of the best ways to sell your house fast for cash is by selling to cash buyers. Maximizing your profit is as important as selling the house quickly.

» How to Sell My House Fast: Know How to Sell Your House Fast and for the Most Cash!


A disclosure statement is a form that details the condition of the property. It’s the home flipper’s responsibility to disclose property defects that affect the value of the house.

» Seller’s Disclosure: Read to Know How to Ace Your Disclosure Process.

Closing Costs for Sellers

A home seller typically pays around 1.0% of the home’s final sale price as closing costs. Every state has its own set of taxes, you can calculate the approximate seller’s closing costs with Houzeo’s Advanced Closing Cost Calculator.

» Closing Costs for Sellers: Be Prepared for the Closing!

🏡Maximize Your Profits By Using Flat Fee MLS

Save thousands in commissions by selling your flip via Houzeo.

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Pointers to Remember in House Flipping

  1. Plan Thoroughly: Flipping Houses cannot be done successfully without proper planning, from writing down expenses to foreseeing the risks. Due to lack of experience there are many things that beginners might overlook. So, it is vital to research and network with people who are experienced.
  2. Note down your expenses: Not arranging enough cash or using them unnecessarily are some of the mistakes that beginners make. Especially when you start with minimal income it is wise to note down where it has to be spent and what sort of profit you are expecting.
  3. Asses the property before purchase: When a distressed property is purchased initially there might be several damages that you overlook as fixable. Through assessment will help you envision the changes you can do and the ones that are problematic.
  4. Invest in a Good Team: Be it lawyers for legal work or workers to do the heavy lifting make a good team before you venture into house flipping. Investing in a team of experienced professionals can expedite the fix-up process and can work with you in the future too.

» Home Inspections: Click to know why a home inspection is absolutely necessary before buying a house.

Alternatives to Flipping Houses

Here are some alternate options for flipping houses.

  • Flat Fee MLS Companies: These are companies that will list your home on the MLS on your behalf for a flat fee. This will help you save cash on the real estate agent commission.
  • Discount Real Estate Brokers: They are licensed professionals or companies that help you sell your house at a low commission or flat rate. Most discount brokers charge a fixed fee or commission of less than 2% for the entire process.
  • For Sale By Owner Websites: 77% of the FSBO sellers sold their houses in 2 weeks. FSBO websites like Houzeo help you sell your home fast and make a successful sale without any hassle. The best part about choosing FSBO is the freedom to make decisions without the intervention of a real estate agent.
  • “We Buy Houses for Cash” Companies: A home seller who sells their home to a cash company can get 50% – 70% of the property’s market value be it a distressed property or not.
  • iBuyers: iBuyers are companies that buy houses for cash instantly. The price is decided with the help of their proprietary algorithm, recent real estate data, and their in-house experts.
  • Real Estate Professionals: Listing and selling a home with a real estate professional is stress-free. Experienced real estate brokers can quickly sell a home with the relevant market information.

What is Houzeo?

An overview of what the platform is all about

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Start Flipping Houses With No Money Near You

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Final Thoughts

Flipping houses is a difficult task and when you start with no money it is even worse, but it can also a great way to enter the house-flipping business. When you start at the bottom, the only way to go is up.

While home flippers have a million tasks they don’t have to take stress to fund their flip, they have to ensure that they know how to convince investors to invest in their properties. And once that stage is passed, you can renovate and resell. It is definitely is diverse and interesting career to try!

Frequently Asked Questions

1. How to flip houses with no money?

An individual need not invest their own money in the flipping business. A potential house flipper can get money through other sources such as hard money lenders, private investors, wholesalers, flipping investors, home equity, and crowdfunding.

2. What type of loan is best for flipping a house?

Since house flipping is a short-term project, it is recommended not to apply for long-term loans. Some forms of short-term loans include private lenders, cash-out refinances, and home equity lines of credit.

3. What is the 70% rule in house flipping?

The 70% rule is for home flippers to determine the maximum price they should pay for a property. The purpose of the rule is that they should spend no more than 70% of the home's after-repair value minus the costs of repairing the property.

4. What is Micro Flipping in real estate?

Micro flipping refers to the flipping strategy where an undervalued property is identified, purchased, and then sold quickly to a buyer. Micro flipping can be closed within a week if everything goes right.

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