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Updated 9 months ago, 03/20/2024

User Stats

14
Posts
3
Votes
Rob Titus
  • New to Real Estate
  • Jacksonville, FL
3
Votes |
14
Posts

Inputs on how to fund first flip

Rob Titus
  • New to Real Estate
  • Jacksonville, FL
Posted

The more I read the more difficult it becomes to figure out a funding method. There are so many ways to get it done. I just want some inputs and advice. 

I will be flipping in Jacksonville, FL. I understand there is no “right” way to do it but my plan was to get hard money for the purchase of the property and use a heloc for the renovations. Side note: I have roughly 120k in home equity. 

Is it possible to use a heloc on my primary residence for renovations on a property that I buy under my LLC? Am I better off not using my LLC and just getting hard money under just myself? Should I use hard money for purchase and repairs? I have so many questions. Thanks in advance.