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Updated about 6 years ago,

User Stats

35
Posts
11
Votes
Lance Queen
  • Developer
  • Parkersburg, WV
11
Votes |
35
Posts

I ran out of money on my flip

Lance Queen
  • Developer
  • Parkersburg, WV
Posted
Hey everyone I’m working on a house flip and ran short of money. I paid cash for the house (approximately $15,000) and then took out a loan from my bank for $20,000. The ARV is $75,000. We ran into some unforeseen termite damage and other issues that put a squeeze on our budget. The house is almost finished but won’t qualify for FHA or VA financing due to it still needs a roof. Just wondering if I should try and go back to the bank for addional funding or should look else where. I need $5000 to finish and correct the issues.

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