Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Starting Out
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 1 year ago,

User Stats

5
Posts
0
Votes
Todd Vicknair
  • Marrero, La
0
Votes |
5
Posts

Finance options from bank

Todd Vicknair
  • Marrero, La
Posted

Hey guys, brand new to BP, not completely new to flipping, however its been a few years. I listen to the podcast everyday all day, alot of great information. I have a 50k$ loan from family interest free, can probably get heloc from primary residence for 60-70$k. I have an LLC, trying to keep all funds inside the LLC from purchase of property to rehab and all other costs. What are my best options? Just wanting to flip for now to build capital until i can buy and hold. Use part of the 50k for downpayment and rest to pay for holding costs and use heloc for Renovations? Use for downpayment and ask bank for loan for balance of house and renovation? If so what type of loan is that called? What type of loan should i be requesting from bank to get started? Hope this makes sense, appreciate the responses. Keep in mind im trying to keep part of my 50k in bank acct to pay the loan/interest so im not taking from personal funds that im living on

Loading replies...