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Updated about 3 years ago on . Most recent reply

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Valeria C Arias
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Two lenders, one lender per person

Valeria C Arias
Posted

I’m a new investor trying to take action in flipping as soon as possible. I have the opportunity to partner with an old friend with more experience in flipping houses than me, he can put 90% of the total cost of the flip with a hard money loan and I’d need to get the other 10%. Unfortunately, I don’t have the cash available for that so I’ve been talking to lenders if they are willing to lend just the 10% and haven’t received good answers. Is this a thing? Having two lenders for one project or is a difficult situation? What other options are out there for this particular case?

Thanks!

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