how to fund first flip

[Diego L.]

hello, i live in Hamburg Germany. I have a unit in Greenville NC, under an LLC completely paid off. I want to get a home equity line of credit to fund buying foreclosure home. My Credit Union said they cannot help because house is under an LLC. I need to go with commercial banking. a couple of questions

-My question is who do you guys recommend i use?

-can i buy a foreclosure under an LLC? for just a flip, would that make sense

thank you for any feedback you can provide. 

[Katie Smith]

Hi Diego! 

Since your property is under an LLC, traditional credit unions might not offer the type of financing you're looking for. As a hard money lender, I can tell you that working with a commercial lender or a hard money lender is often a better route for accessing funds under an LLC. We specialize in providing quick and flexible financing for investors like you. You will most likely have a hard time finding a lender to do a HELOC on an investment property though. Have you thought about doing a cash-out refinance instead?

To answer your second question, yes, you can absolutely buy a foreclosure under an LLC, and it often makes sense, especially for a flip. It helps protect your personal assets and keeps your business operations separate. If you're interested, I'd be happy to discuss how I can assist with the funding for your next project.

Feel free to reach out if you want to explore your options!