I have $205k, house is $250k -- What do?

[Ken Sanders]

I'm looking to put an offer in on a higher end flip house this week, but I need the advice of the BP veterans on this.

The list price is $250k , but I only have $205k. I'd really like to give a contingency-free cash offer to compete with the other cash offers that I know will be coming in. If I can get the house for, say, $235k, what would my best route be to come up with the additional $30k? I was thinking of taking a cash advance on two of my credit cards (I currently have $120k in total credit lines).

As soon as I take possession of the house, I'll be pulling the equity out through a HELOC. This is how I've been doing my deals in the past.

I suppose I could I offer full list price with a mortgage contingency, but I may be screwed if an inspection is required (inspection and in-person appraisal is not required for the HELOC).

I'll be talking to my bank later today, but I'd love to hear the opinion of BPers.