Private Lending & Conventional Mortgage Advice

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Scott Spires
  • Rental Property Investor
  • Oklahoma City, OK
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Inherited house, need a loan for finishing flip

Scott Spires
  • Rental Property Investor
  • Oklahoma City, OK
Posted Sep 5 2019, 19:21

I inherited a small house that was paid off from my mother. Unfortunately my mother and middle brother passed away four months apart. I went on sabbatical to help family and flip the house. It’s worth before flip is about $106,000. We are about half way through and I need about $13,000-$15,000 to finish. I don’t necessarily have bad credit, but I have no credit. Is there a way to use the house as collateral to receive a small loan? I would love any wisdom you could share on this. Thanks!

Scott

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