Updated over 7 years ago on . Most recent reply
funding a flip with a bank loan
Hello,
I actually have a few successful flips under my belt, however, the newest deal I have secured is on a larger scale. I have some money from private investors and for a normal project this would be plenty but for this one, it just about covers the all-cash purchase leaving none for the renovation. my question is, can I put a loan on this house after I buy it with cash? is there a period of time I have to wait before I do so? is there a better option? I understand ill have to leave 20-25% in the house but that would leave more than enough for the renovations. Please let me know what someone with more experience would do in this case.