We are still doing a ton of fix and flip loans there and the numbers make sense for the banks.

My total portfolio in this area I spent approximately $350k ($150k my cash, $200k bank carry).

The seller is open to seller financing, which presents an incredible opportunity to grow without traditional bank financing.

Personally, and what I would do for my clients, I would connect with a local community banker to discuss the property and see if their bank would entertain this type of financing (not all banks like doing this type of deal).

Regarding a HELOC, most banks will only provide a HELOC up to 75-80% of the property value, so you may not be able to access a HELOC for a while.

I also have $100,000 in the bank, and I'm trying to figure out what steps to take next.

In particular, the ability to auto-sync and categorize bank transactions (similar to Stessa), easily track expenses against budgets, and streamline lease creation with lease templates is quite nice.

I think the borrower is better off trying a local bank or broker in that area.

I know I need to get a credit card and keep my utilization ratio low, but I wouldn't know much about the process of actually receiving a conventional loan from a bank or any type of loan.

I've even been sitting in a bank struggling to get my LLC set and called my senior advisor attorney who called me back immediately to help out.