Originally posted by @Ahmed Porter:
"In Ny DC and La it is a little harder due to the price point of the homes . in the mid west and other area it may be another great source of funding . will reach out to you later in the week to get some more detail . In this game even if you do not use it is allways great to have extra funding sources."
I respectfully disagree. I'm from Los Angeles, CA and the price point here is a lot higher as well but we've worked with many local real estate investors. Even if you find a Hard Money Lender that lends 100% which is close to impossible now a days, you will be required to pay hight interest rates plus a 50/50 split on profits because their doing 100% financing.
With our credit line however, let's say you have $150K line of credit and you are purchasing a $400K property, you can use the $100K for a 20% down payment to a Hard Money Lender, and still have $50K left for your rehab. That means that you are leveraging your credit line to do 100% financing (no money out of pocket whatsoever) and still keep 100% of ALL PROFITS. In this business you should just be creative and not limit yourself. I myself started with a $100K credit line. To date, I have close to $3.5M credit line as good as cash that I can leverage up to $30M if I need to.