Information relating to obtaining EXTRA funds for first flip?

Question

Hi I was wondering if anyone would be able to share other possible ways to obtain additional funds for a first potential flip? Any advice would be helpful!

Ned Carey · Answer

Are you thinking you would use all cash?

Most rehabs are funded with construction loans or hard money loans.  With a construction or hard money loan, I would think $100k would be plenty of cash to get your first one done with additional financing.

some options

• Traditional lenders
•           smaller regional banks
•           203 K loans
•           Heloc on your home
•           construction loans
• hard money lenders - high interest loans for real estate rehabbing (see the resources tab)
• private lenders - friends family and associates

Tom T. · Answer

Here's the link to it: https://www.biggerpockets.com/store

Tom T. · Answer

I highly recommend you get the The Book on Investing in Real Estate with No (and Low) Money Down by Brandon of BiggerPockets. This book outlines all the financing you need.

This is a $20 book that will get you started on your empire. Do it!

Joaquin R. · Answer

Check this out. If you can not find what you are looking for let me know!

Your question is very broad, but I have a feeling that your situation is very specific.

Have you located an investment opportunity?

Is that opportunity going to require more than 100k?

Are looking for partnerships?

Loans?

Nickey Ramsey · Answer

We have 100k+ of our own money, and thought about getting an unsecured line of credit. We are unsure about other ways to obtain more money in addition to our own. We are just interested in the "better" potential property investments.

Joaquin R. · Answer

Other to what? What ways have you used?