How to Acquire Funds For Closing

[Ronald Starusnak]

Hey guys, we are working with someone who is providing private funds and we are also working with a hard money lender. I perceive an issue where we run into issues with consistently funding closing costs. This HML will fund the rehab but wants 20% of the rehab and 20% of the house cost upfront.

My private lender does not fund the rehab at all. In my specific scenario I have 50k+ out and we need to come up with another 22k to close on a property in 1-2 weeks. We are not a huge company and this can pose an issue. I'd have to wait for the first property to sell or suffer with a low bank account for awhile.

My primary company brings us in good revenue but I do not want to kill of the the funds it is bringing in as we have expenses every spring. I am looking for some ideas on how to cover the $22k closing costs. We do 100% of the repairs in house, we are very quick and can get things done much lower than typical cost.