Mixing private and traditional lending
I am trying to do a flip and want to take advantage of the low rates and down payment options of traditional lending, but I’m worried I will not have enough money for the improvements I want to make on the property. I heard on one of the podcasts about the option of using private money to pay the 20% down payment for traditional lending, and while my plan is slightly different, I was wondering if it would be possible to mix the two types of lending, in my case the traditional lending to purchase the property and the private money to fund the improvements. Does this sound like it would work? One issue I am running in to is that a lot of private lenders I have talked to have a minimum amount that they will lend. Are there any other good options?