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Updated over 3 years ago on .

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1
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1
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David S.
1
Votes |
1
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Seeking knowledge on how to get 20k in second position..

David S.
Posted

Hey guys.  Cutting straight to it. Where is a good place to look to find  20k in funding for that won't be in 1st position.  The senior debt will be n first.  But I can't find anyone who will lend in second. 

6 houses in Petersburg.  Purchase 310k  -

190k renovation. 

Total project cost 500k

Down-payment is 75. I have 55k and need to find a company that will lend 20k so I can close my deal. Again they have to be willing to take 2nd position. 

I cannot offer 1st position liens because the senior lender paying for renovations and most purchase will be in 1st position. 

Closing set for October 4. 

- My most recent flip was 15710 gary ave, Chester va. July 22,2021

110k profit.  - 

any guidance would be appreciated