Hello everyone, I am a roofing/general contractor based out of the south chicagoland area. i recently purchased a property (100% paid) we planned on using our companys income to fund for the flip, but due to poor decisions we have come to a hault in the process. we have tried applying for credit cards and loc but havent had any luck due to our personal credit. My question is, would it be possible to get a HELOC on this property considering it is not in livable conditions?

@Rafael Rosales it may be difficult and cumbersome to get a HELOC especially if your personal credit is not great. I would encourage you to look at hard money lenders. They are used to lending on properties that are not in livable conditions and they can do a cash out refinance or possibly just give you draws to finish the project. They will need to be in first lien posisition though.

thank you Shiloh for the reply, i have thought about a hard money loan but dont have enough info on these type of loans. Do you recommend any lenders?