Finishing renovation/ need $50,000 unsecured LOC. HELP!!

[Lauryn Meadows]

Does anyone know of private money/ hardmoney/ credit card companies that will do an unsecured LOC for $50,000?

I have an 8 units mixed portfolio deal that I’m BRRRRing. I’ve completed half of the rehab and need an additional $50,000 to finish. This property has two mortgages so I really need unsecured. I have been preapproved for the refinance of these properties in May and can pay off the $50,000. My private money lender backed out last min. Here are some numbers. 

Purchase price $250,000

Portillo loan $200,000 

Owner financing on $50,000 

Appraisal before renovation $373,000 

Total renovation budget: $100,000

ARV low end: $480,000

ARV high end: $550,000

Refinancing in May for $380,000 

Paying off 2nd mortgage ($45,000 after paydown)

And ($50,000+ fees for remaining renovation) 

[Jay Hinrichs]

time to hit up everyone you know .. or your local credit union.. no HML would touch this with a ten foot cattle prod