Financing your next deal

[Kimberly N.]

If you are in the middle of your flip, or any degree prior to ready for listing status, and you find an awesome deal that can be the next flip, how can you go ahead & purchase while capital is tied up in the first property? Will hard money lenders do short term loans? would I have to go the mortgage route? Also, what if funds are available to purchase, but not enough for the rehab part of the second property? We are new & hopefully about to close on deal one, but a HUD foreclosed home I have been watching for weeks may be available for non-owner occupied offers in the near future.

Thank you!

[Jackelyn Gonzalez]

@Kimberly N. You Could potentially do a short term cash out loan on the property you are currently flipping and the property that you would like to purchase. Each lender has their own requirements.