My plan is to continue to operate the LTR, get approvals for my already initiated project one way or another from the board/or not since I've already put in a fair amount of money for turf/installation, and respectfully decline this additional potential $6k charge. 

He specializes in providing financing solutions for a range of projects, including bridge loans for 1-4 Family Investment Properties, Multi-family, Mixed Use, Ground-up New Construction, Fix & Flip, Fix to Perm, and Bridge to Stabilization.

@Kyle Klinethe best way to build initial capital for RE... is from a W2 job.private money isn't really a beginner strategy... and if it were easy to fix and flip to generate capital, we'd all have side flipping businesses. 

I'm sorry that it sounds like you're going to loose a significant amount of money but what were you expecting?   

An estoppel certificate fixes this problem.

Quote from @Cory Ray: Hey everyone,My business partner and I are officially starting up our wholesaling and fix and flip operation.

Your client will need to come in with the difference between existing loan amount and contract amount so a hefty amount down. 

They can and often will say 'no' but if you can just get a 'yes' on a single digit fixed rate you're probably better off than any personal or consolidation loan you may get.

I've included an example below to help illustrate this.So different lenders have different rates (which do vary even for DSCR loans) but these are factors they all consider.See example below:DSCR < 1Principal + Interest = $1,700Taxes = $350, Insurance = $100, Association Dues = $50Total PITIA = $2200Rent = $2000DSCR = Rent/PITIA = 2000/2200 = 0.91Since the DSCR is 0.91, we know the expenses are greater than the income of the property.DSCR >1Principal + Interest = $1,500Taxes = $250, Insurance = $100, Association Dues = $25Total PITIA = $1875 Rent = $2300DSCR = Rent/PITIA = 2300/1875 = 1.23There are 30 year fixed terms and other options such as 40 year with 10 year interest only converting to a 30 year fully amortizing loan. 

Hello im starting out and this might sound like a dumb question but I want to know if you always need a real estate agent when buying a fix and flip property that you find by driving by it or is sent to you by a wholesaler or basically any other way than using the MLS?