Help, I'm making that classic "run out of money on rehab" mistake

[Orion Walker]

Earlier this year we bought two houses that needed major work. We purchased them with a Fannie Mae Homestyle loan, which is similar to an FHA 203k. I got a bit carried away on the rehab, going beyond the bank loan amount. I figured that would be okay as I could figure out how to make up the difference.

What I wasn't counting on was throwing in an offer on a big old expensive house in the nicest part of our town, getting my dad to jump in as a partner, and then actually closing on that place. 

So now I've got three remodel projects underway at the same time, and funds are running quite low. I can see the light at the end of the rehabs, and I'm confident we are still well under market value on the properties, and they will make great rentals, but I just have to figure out how to get from here to there. And I have to figure it out pretty quick so things don't grind to a halt. I've tapped about as much family support as I care to ask for, I've dipped into the zero interest for x months credit cards, I've looked under rocks...  

Any ideas/suggestions on what to do at this point? I've got good credit and a steady day job. I've got a property that I bought in 2012 with about 30% equity on current value. 

Thoughts, ideas, suggestions?

Thanks!

[Andrew Syrios]

It is, unfortunately, not uncommon for a rehab to go over budget. Is there anyone else you could get a private loan from? Maybe pay a higher interest rate? Or you could look around for an investor to come in on one of the deals for some money. If they are all going to be well under market value, you should have some equity room to play with and be able cut someone into the deal. Either that or you could try to sell one off to another investor. You wouldn't get as good of a return for sure, but that might free up some money and also take one of the rehabs off your plate.