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Updated over 2 years ago,

User Stats

17
Posts
5
Votes
German Torres
  • Houston, TX
5
Votes |
17
Posts

I’m almost foreclosed

German Torres
  • Houston, TX
Posted

Hi BP I hope to find some words of true north.

I flip a house last year and 54k was my gain, so I was feeling on top of the world, that I knew everything so I went and bought 3 more house to be rentals, different prices and location, all in Houston area, using Hard Money, after 5 moths first house was completed and rented and I just refinanced with 50k equity ( no cash out), second one 130 k equity no refinanced yet took 4 moths to rehab and the 3er one is at 10 % of the rehab.

I run out of money, I have like 80k on credit cards and the loans are coming to maturity.

What can I do?…



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