Skip to content
×
Try PRO Free Today!
BiggerPockets Pro offers you a comprehensive suite of tools and resources
Market and Deal Finder Tools
Deal Analysis Calculators
Property Management Software
Exclusive discounts to Home Depot, RentRedi, and more
$0
7 days free
$828/yr or $69/mo when billed monthly.
$390/yr or $32.5/mo when billed annually.
7 days free. 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.
Multi-Family and Apartment Investing
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 9 years ago on . Most recent reply

User Stats

9
Posts
1
Votes
Walter Ocampo
  • Investor
  • New Orleans, LA
1
Votes |
9
Posts

Time to start flipping! Need a private lender!

Walter Ocampo
  • Investor
  • New Orleans, LA
Posted

Currently I have three properties. A one bedroom one bathroom home, a triplex (my family and I live in one unit), and a quad. The one bedroom is paid off, we have a HELOC on the triplex, and a mortgage on the quad. I hit the debt to income wall and was denied on increasing my HELOC. Now, I'm thinking about acquiring some private money so I can add-on to the single house making it larger, and flipping it so I can acquire more cash to invest in more units. The house right now is worth about $150,000 and new 3br/2ba homes in the area are selling in the $450k - $500k range. This would allow us to pay off a private lender and still have a good amount of cash that we can reinvest. Any advice is welcomed!

Loading replies...