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Updated over 7 years ago on . Most recent reply

Larissa Luna's profile image
Larissa Luna's profile image
Larissa Luna
  • Real Estate Agent
  • from Fillmore, California
  • Member since Oct 19, 2017
Connect

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27
Posts
8
Votes
Larissa Luna's profile image
Larissa Luna's profile image
Larissa Luna
  • Real Estate Agent
  • from Fillmore, California
  • Member since Oct 19, 2017
Connect
Larissa Luna
  • Real Estate Agent
  • Fillmore, CA
8
Votes |
27
Posts
Creative Real Estate Financing

Advice on financing part of a flip with equity loan

Larissa Luna
  • Real Estate Agent
  • Fillmore, CA
Posted

Hello!

I've been thinking about flipping a property but I don't have the 20%+ to put down when financing with a HML. I currently own the home we live in and was thinking about refinancing it and taking out an equity loan to use as the downpayment on a fix and flip. Based on your experience or knowledge, would this be a bad idea? Is there a better/more creative way to get that money to put down?

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Larissa Luna's profile image
Larissa Luna's profile image
Larissa Luna
  • Real Estate Agent
  • from Fillmore, California
  • Member since Oct 19, 2017
Connect

User Stats

27
Posts
8
Votes
Larissa Luna's profile image
Larissa Luna's profile image
Larissa Luna
  • Real Estate Agent
  • from Fillmore, California
  • Member since Oct 19, 2017
Connect
Larissa Luna
  • Real Estate Agent
  • Fillmore, CA
8
Votes |
27
Posts
Larissa Luna
  • Real Estate Agent
  • Fillmore, CA
Replied

Got it, thank you @Jack Bobeck! 

I agree, our own cash is the goal. :) 

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