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Updated over 8 years ago on . Most recent reply

User Stats

9
Posts
2
Votes
John Arcana
  • Real Estate Agent
  • Lumberton, TX
2
Votes |
9
Posts

First flip help

John Arcana
  • Real Estate Agent
  • Lumberton, TX
Posted

I'm still very green in RE investing. I have two rental properties with good cash flow but I have been wanting to attempt my first flip. That being said, I don't really know how to secure financing without having all the cash myself. I've got my eye on a home for sale cash only, $99,000. Renovated, comps show it could sell for about $150,000. (I'm a full time Realtor so I feel my ARV is pretty accurate.) My problem is I only have about $20k in the bank plus a $15k LOC. How would I purchase the property and pay for renovations with only $35k available to me?

  • John Arcana
  • Most Popular Reply

    User Stats

    90
    Posts
    25
    Votes
    Brandon Connell
    • Investor
    • Galesburg, IL
    25
    Votes |
    90
    Posts
    Brandon Connell
    • Investor
    • Galesburg, IL
    Replied

    Hard money is your best bet. There is a list of them here in the forum. DoHardMoney is popular.

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