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 about 6 years ago, 09/20/2018

User Stats

36
Posts
16
Votes
Emanuel Vega
  • Electrician
  • Oakland, CA
16
Votes |
36
Posts

Using private money without 2 month seasoning of funds?

Emanuel Vega
  • Electrician
  • Oakland, CA
Posted

A private lender and I are going 50/50 on a down payment, I have cash & my private money partner is using HELOC funds and I am wondering how we can legally go about using our cash ASAP without a 2 month seasoning of funds. We would eventually start an LLC before we close on a property. I know through traditional loans the banks like to see a seasoning of funds for 2 months but I would like to be able to offer on properties as I am already pre approved just need help with the additional amount needed. What are my options here? I would hate to sit around to let the seasoning set, I am seeing deals that would make sense and they go to pending because I don't have the entire amount. I know I can have a contingency for financing depending how motivated the seller is but I would like to know what I can do in this situation. I ordered the raising private capitol book bigger pockets just released but wanted to ask the BP community

Loading replies...