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Updated over 5 years ago,

User Stats

10
Posts
8
Votes
Justin Mast
  • Real Estate Broker
  • Coos Bay, OR
8
Votes |
10
Posts

Creative Financing Ideas Welcome

Justin Mast
  • Real Estate Broker
  • Coos Bay, OR
Posted

I left my corporate job almost 2 years ago to move closer to home (family), and saw this as an opportunity to learn the contracting trade working with my cousin who operates a construction business. Fast forward a bit, now I'm a licensed realtor, and have taken small jobs with my newly acquired contracting license, however I feel as though I've dug myself a hole that I'm needed some advise how to get out of. 

My seed money to start buying flips/ rentals is tied up in a piece of bare land zoned farm/forest without a dwelling on it. This land is likely to take a specific buyer which I haven't connected yet. I could leverage this property as collateral, but banks want improvements in order to pull equity out. 

I don't meet lending requirements so money seems to be frozen. I have great credit and a degree in real estate finance, but am clueless as how to get started. I have looked to partner on deals, but hate to mix family with money. I would love to be able to do things myself if possible. 

Thanks for taking the time to read/ respond to my dilemma. 

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