New Member: seeking fundraising advise

[Andy Loomis]

I am 2 weeks away from completing my most recent single-family flip. I purchased and renovated the home with the cash in my LLC, but have nearly tapped-out my available funds. I do not have enough money available put a cash offer in on the next project house until the first one sells, which causes too much downtime between projects. I am exploring financing options and have been hitting roadblock after roadblock. The LLC has been in business for 1.5 years, so we don't satisfy the "2 years in business" requirement for many lenders. Flipping is my full-time "job", so I am not a W2 employee and am viewed as "unemployed" in the eyes of the banks/lenders.

- I have a $50K business line of credit, 8.5%.

- Hoping to avoid a HELOC on my personal residence (trying to maintain separation between personal/LLC).

- Financial advisor & accountant both strongly advised against using our 401K or Roth IRA money.

- Private investors (family/friends): we've approached a few folks already, no solid bites.

What other avenues should I be considering?  Any input or suggestions would be greatly appreciated. 

Thank you! - Andy