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William Kelly
  • Fort Bragg, NC
15
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27
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Need help financing my first deal

William Kelly
  • Fort Bragg, NC
Posted Aug 26 2017, 12:36

BP, 

I am looking to purchase my first fix and flip properties and am having trouble finding a lender. I am located in fayetteville, NC so if anyone has any recommendations i would greatly appreciate it. I went to wells fargo with an 830 credit score and requested a 100k personal line of credit and got denied. I'm going to go back on monday and try to get a 50k unsecured personal line of credit and try to some how tell them about collateral with the assets that i have? Not sure if that will work or not. Another key note i have 35k liquid cash to pay for rehab costs so i would only need funding for about 30k-70k to actually purchase deal.

Anyways ive looked into dohardmoney.com but they seem kind of sketchy and ive heard bad reviews. I think one of my biggest hurdles right now is getting the funding for the fix and flip. I've been actively trying for about a week and a half now and have nothing to show for it. If anyone could point me in the right direction or give me a referral i would greatly appreciate it. 

Any advice will help thanks!

William. 

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