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Updated over 2 years ago, 08/24/2022

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5
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John Thompson
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5
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Situational 1st deal options!?

John Thompson
Posted

Hey everyone, couple questions I have starting out looking to buy my 1st few flips/Brrrrs.

I have a little over 100k in equity id like to pull to invest from my primary residence, make roughly 60-70k self employed for last 3 years, with very little debt other than my mortgage and a slowly rising credit score 650-700 ish over the last year really stared moving up.

My question is who should I talk to to get a loan on investment? Should I refinance or Heloc the equity in my primary to buy a flip or start the brrrr process (which is the goal brrrrr with str and ltr whatever makes sense at the time)? I Also have access to hard money, which I may need if I can't get a loan and access any liquid funds to get started, and I have a few other avenues/lines of credit where I could generate 20k cash/credit if need be without begging friends and family haha.

Any help is appreciated greatly, thanks all!

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