Property in North Texas

[Amanda C.]

Hello all. Trying to figure out the best way to tackle this and I know you all would be able to help. We are looking at our first flip - ARV is $ 145-150 K, contract is $95,000 we are estimating a repair budget of $25,000. We are currently waiting to close on another property using a traditional conventional loan this Friday (fingers crossed, this is our first investment property so its really exciting). With that said, a little apprehensive of using traditional lending on this flip as the DTI would be skewed and I don't think we would be able to get approved as with our current home and the new rental property our DTI is just about capped at what banks like to see. We've looked into a hard money lender (lending home) but so far we are looking at out of pocket to close about $26,000. Our goal is to fix and put in market in 2-3 months so we are okay with higher % interest but we are not ok with that much out of pocket to close. Is there anything available out there that is more attractive, maybe like $10,000 - $15,000 out of pocket?