GAP Funding

[Neil Metzger]

Newbie question alert......

Hello all, hopefully this is the correct forum to ask this question. I just finished up a flip in Pittsburgh and am impatiently forced to wait to close with the buyer till 10/7. I have identified my next acquisition target. Is there any type of financial package out there that will enable us to use the equity we have in the house under contract, which we own free and clear - sales contract is for 171,500 - to get some type of funding now? In my old business of reselling technology we could receive an invoice and use a factoring company, They would buy the receivable less a monthly factoring fee. Does the same concept exist in real estate? I know its only 36 days to wait, but I am cash BROKE at this point after doing the 1st one on my own. 

Thanks in advance - neil

[Christine Heartsill]

@Jason Hirko, can you help a gal in Houston TX!!??!?!  I have two properties under contract and working with a hard money lender and will be bringing some $$$ to the table at closing but once I do that, I won't have enough money in the bank to show "proof of funds" or to cover holding costs once I get the rehab going.  Trying to figure out how I am going to keep buying properties without thousands in my bank account! Let me know if you want to know more. Thanks!!