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Updated 7 months ago on . Most recent reply

User Stats

20
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12
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Johana Villamil
  • Investor
  • San Antonio
12
Votes |
20
Posts

Need more cash to finish rehab

Johana Villamil
  • Investor
  • San Antonio
Posted

Hello my fellow Big Pocketers,  I need some help! I am currently in the middle of a rehab, things won't left with my General Contractor and I need to take action. I have spoken with him several times already but it's like talking to the wall. I am 6 months in and he just prolongs my project. Sometimes I go days even weeks without work and as we all know time is money in this business! I already had another GC take a look at my property and he has done good quick work for other investors in the area that I know personally. I want to move forward with him but it will increase my rehab budget. I am using hard money and they are not willing to increase my rehab budget. I need recommendations as how I can go about getting myself some more cash. Has anyone ever been in this situation and needed more cash to finish their project? What would I be able to qualify for in this situation? 

Most Popular Reply

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1,800
Posts
1,091
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Adam Bartomeo
  • Real Estate Broker
  • Cape Coral, FL
1,091
Votes |
1,800
Posts
Adam Bartomeo
  • Real Estate Broker
  • Cape Coral, FL
Replied

I assume that you are looking for creative ways to fund this. You can get cash from your credit cards. I posted on BP about 10 years ago about using credit cards to buy houses with 0% interest. Its all true and ligit. You can do a balance transfer right into your bank account, they normally charge you a 2% -3% upfront fee and give you 9 - 12 months 0%. I used to do it all the time but haven't had a need in the last 3 -4 years.

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