Updated over 5 years ago on . Most recent reply
Unsecured Line of Credit
Hello everyone, I am in Delaware and have flipped 6 homes, all successfully, since I began flipping in 2015. They have all been funded with personal cash, except for the last one on which I drew on a personal HELOC. Although I don't want to be actively working on more than one home at a time, I would like to reduce the downtime between completing and listing one house and starting on the next. Right now I have to wait to list and settle and then wait again to find and settle on the next house. Would an unsecured line of credit to bridge from one project to the next be the right way to go. Secondarily, it would provide me with access to funds to increase my flexibility on deals and not have to use my HELOC. What type of lender would work best for this? Any suggestions?
Thank you!