BiggerPockets Money Podcast · Tuesday, September 1, 2026
Nick Morales detailed his early real estate investment strategy, which involved using 'other people's money' (OPM) to fund his first flip at age 24. He secured a hard money loan at 10% interest and two points, covering 100% of the purchase price and rehab costs for a $130,000 property.
“So my first flip is I had a friend that knew somebody that was a lending cash at a hard money rate, you know, 10% and two points.”
“And, you know, I did the math and said, okay, this makes sense and put him in first position on the asset and closed on it. And then had money for the construction, all built into that like a normal bridge loan that you would do at a normal lender that's in Bigger Pockets sphere.”
“Yeah, yeah, it was 100% of the first price and rehab costs. I think it was 130,000. I think it was.”