Two Properties Under Contract - Need Ideas on How to Fund

[Tony S.]

Hi All, 

I have two properties under contract and am wondering if anyone can provide some ideas on how to fund the acquisition of these properties?  Below are the numbers for the two properties combined:

Purchase Price: 50K

Estimated Repairs: 60K

Contingency Reserve: 20K

Conservative ARV: 180K

I'm partnered up with a realtor and a contractor.  I can fund the repairs with various lines of credit, so right now I'm just looking for ways to acquire the properties.  So far I'm thinking of borrowing 13k against my 401(k) and try to obtain a personal loan from the bank.  But it's still not enough.  Any advice would be appreciated!