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 7 years ago,

User Stats

30
Posts
18
Votes
Rylan Rock
  • Flipper/Rehabber
  • Dallas - San Antonio, TX
18
Votes |
30
Posts

Funding with 70k and no Income

Rylan Rock
  • Flipper/Rehabber
  • Dallas - San Antonio, TX
Posted

I'm having trouble figuring out my best option for funding. I'm currently looking for houses in the San Antonio, TX area to flip (100-200k range).

I have $70k saved in the bank. Part of this comes from my first flip that just closed earlier this month. (Pictures at the bottom.) I left my job in August of last year so it seems traditional financing is out of the picture with no proof of income. I started an LLC late last year but have no business connected to it just yet as I bought the house under my name before creating an LLC. My goal is to start doing all my future real estate projects under my LLC to prevent my credit from being beat up as it was with the first flip (750+ to around 660 currently)

Business line of credits also seem to be out of the picture as I don't have at least 6 months of financials to show I am a profitable business.

My first flip was done with strictly cash and credit cards and don't want to go that route again if I don't need to.

Any ideas on financing with my situation? I have talked a little with Torro (gotorro.com) but have read some bad reviews so not sure if I want to move forward with them. Anybody know if they're credible? 

Thanks in advance! 

Here are some pictures of my first flip:

Loading replies...