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!
Have you looked into BP/hardmoneylenders? There's plenty of them on there. Also, reach out to Jon F who has recently advertised loans: https://www.capitalthreesixty.com/ I live next to Fort Bragg, I would love to see how your first flip goes :)