Securing Gap Financing

[Doug Cornelison]

Hello all. I am wondering how difficult it is to secure gap funding on a fix and flip property. I own a start-up REI LLC that recently lost major investor and we are a little too short on capital to finance the next flip. I have spoken with multiple lenders in my area and they will not take 2nd position on a loan.

Essentially I am wondering how difficult it is for a start-up to secure gap financing that would cover the down payment of a 75% LTC loan.  I don't want to have to give up a significant amount of our profit to a gap lender, so I am also looking for alternative financing.  Any suggestions and information would be extremely helpful.