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Updated almost 8 years ago, 01/01/2017
SBA financing for first time real-estate flipper
I want to flip houses. Could I create an LLC or Scorp, open a SBA unsecured business line of credit and use that line to finance the down payment and reno cost for the flips?
Background- I'm 28, work full time, married, wife works full time, no kids, we each have employer retirement plans that we don't want to touch. We own our home but no equity for heloc or collateral. I have no personal money to use to start the biz and I don't want to have to secure a hard money deal.
Thanks
Wayne Brooks
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thanks for the feedback