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Updated over 1 year ago on . Most recent reply

User Stats

36
Posts
28
Votes
Sparkle Carlock
  • New to Real Estate
  • Indianapolis, IN
28
Votes |
36
Posts

How can I bridge the gap?

Sparkle Carlock
  • New to Real Estate
  • Indianapolis, IN
Posted

Hi BP Family! 

I am fairly new to REI still. Have been on the browse for the right deal for me to dive into my first flip. I have gotten pre-approval on HML already, small personal budget, good credit score, and found a wonderful potential deal. Thing is - after buyers closing costs, I will be low on OOP cash for other things during the process. I am wondering if anyone could advise me on how to better bridge the gap between holding, and seller's closing costs? How can I obtain more financing so I don't go broke trying to finance my first flip - which of course is bound to have several unexpected expenses along the way.

Should I look into getting a personal line of credit? Or unsecured line of credit? or a personal small loan?

Please help me :-(

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