All Forum Posts by: Hip Rodriguez

@James Nosack - Aren't you going to have a hard time finding a lender that will do this type of deal since jn essence it's 100% financing?

@Cindy Mastin I had to replace my nearly 30 year old boiler last winter because of a flood. Estimates ranged anywhere from $4,000 to $7,500. Home is about 2300 square ft. These things last forever if you maintain them.

So I found a HML that doesn't care about seasoning or source of funds. Drawback is they want 33% of the purchase plus rehab with a minimum of $50,000 down payment.

@John Acheson - Yes, I agree. The credit card money would come from business credit cards.

Getting the cards is fine and all but has anyone used it to fund the down payment on a flip? 

I wouldn't want to pull let's say $30 grand out of these cards and let it sit in the bank for two months while the money is seasoned to use as a down payment.

Is there a hard money lender or other lender that won't mind if the money isn't seasoned?

@Perry Farella Does the down payment have to be seasoned?

@Jason D. I've reached out to some HMLs but they want the money seasoned for two months.

Are there any lenders out there that would allow the down payment on a flip to come from a personal loan or credit card?

How about the LTV?

@Hansen Anderson@Are there seasoning requirements for the down payment? Also, what kind of rates are we looking at?