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Updated almost 7 years ago,
Have 100K Cash but no credit history. How best to utilise it.
Hello
I am a real estate developer in India and i have recently formed my LLC in Dallas to try to do some real estate projects in the US. To test out the market i am starting out with a $100K in capital. My aim is to use this capital to do atleast 4 Flips from May to September probably with homes that have an ARV of 100K. As i am not from the US i have no prior credit history and i am not aware of any banks that look at international assests ( please correct me if i am wrong) while considering giving a loan or mortgage.
So my question is which kind of financing will allow me to best utilise my money to meet the 4 flip minimum criteria . Im thinking Seller Financing deals but not sure if they usually come with a prepayment penalty or a minimum holding period. Hard money is also another route im considering.
Looking to you experienced real estate investors for more creative suggestions . Thank You.