? about using financing to scale flip business

[Kelly Whitlock]

Hi all,

Looking for some advice on acquiring financing for flips.  My husband and I have done 2 flips since last year using cash but we want to scale and in order to do so, we are going to need financing.  I plan on contacting local banks/credit unions but am a little worried about getting approval because I am used to traditional mortgage approval guidelines.  My husband is doing this full-time and therefore flips are his only income right now and since it is a recent change, how do they calculate his income?  My income is not enough to support financing with our primary mortgage.  His credit is around 790 and mine is 800+.  We do have 20% to put down.  

My other hesitation to using financing (assuming we can get it) is the loss of cash offers and how that will effect us being able to acquire properties.  Our previous 2 flips, the cash offer is what won us the deals.

How have others made the jump to scaling their flip business to be able to do multiple properties at the same time?