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Updated almost 9 years ago,

User Stats

12
Posts
4
Votes
Rick Prag
  • Rental Property Investor
  • San Diego, CA
4
Votes |
12
Posts

I need 100% financing on 2 San Diego Flips. How?

Rick Prag
  • Rental Property Investor
  • San Diego, CA
Posted

I posted earlier today and someone removed my post because they claimed talking about financing was considered soliciting. I will be vague and hopefully I can read the responses before it is removed again.

I have 2 flips with a possible third that I've secured, but now I need to lock in financing. I really need to keep my savings for working capital, which means I need 100% financing on the purchase price and the rehab budget. The spreads are great on both deals. I have talked to several hard money lenders and there are several that require 10% down payment on the purchase price. Do lenders exist that finance 100%?  If not, how can I do the deal? Two lenders?  Someone mentioned something about gap financing?

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