Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Buying & Selling Real Estate
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated almost 9 years ago,

User Stats

5
Posts
0
Votes
Lucas Kok
  • Real Estate Investor
  • chicago, IL
0
Votes |
5
Posts

What is the best way to finance a condo flip?

Lucas Kok
  • Real Estate Investor
  • chicago, IL
Posted

Hello Fellow Investors!

I've been a buy and hold investor the last 5 years, but is recently presented with an opportunity to flip my first property. I am wondering how I should finance the purchase and renovation if I plan to hold the property for only 90-120 days. I have one paid for property which have enough equity to finance the purchase, but not the renovation. I have 2 other rentals which are also paid off, which have enough equity to finance the entire flip. 

Should I go with a Heloc, a home equity loan or since my DTI is low, go the conventional route? What are the pros/cons and speed of approval for each of these processes?

I look forward to learning from you all. Thank you! 

Loading replies...