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Updated over 10 years ago,

User Stats

701
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531
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Christopher B.
  • Rental Property Investor
  • Knoxville, TN
531
Votes |
701
Posts

Just agreed to buy 4 houses and may need a bridge loan

Christopher B.
  • Rental Property Investor
  • Knoxville, TN
Posted

I just agreed to buy 4 houses for $250k. The closing date was set to 45 days out. It was a great deal, I'll flip 2 and keep 2 as rentals. I only have 1 issue. I only have half the capital needed to close the deal right now. I have a house on the market that I just dropped the price too get a quick offer, I am confident I will have a contract on it and will close shortly after the set closing date for the 4 homes but I will need a bridge loan. I can get the capital as I've already had an investor friend offer to purchase 1 of the houses sigh unseen for a fair price and he would bring his POF's to close the deal. I will do this to make the deal happen, no doubt, but I want to look into all my options and try to take this deal down myself without giving up the farm to do so. I've done some searches here at BP and online and will continue searching/calling but wanted to ask if anyone knows of a good option (reference) for a hard money lender or bridge loan?