Updated over 8 years ago on . Most recent reply
Private lender Line of Credit
Has anyone had any luck with private lender's issuing a line of credit. I want to buy some properties at a tax foreclosure which requires full payment three days after auction closes. I know I can't get a Fix and Flip loan in that short of a time frame, I was hoping to find a Private Lender to finance the property until I got a rehab loan, but so far have been unlucky. My thought would be to get a line of credit to buy three or four of the properties to flip, then finance with a rehab loan and cash out the private lender. Anyone have thoughts on doing this or has anyone done something similar?