Funding a Flip of a property you own

2 Replies

I was able to obtain ownership of a property to flip (Mother’s old house) with lots of potential. I now need to secure funding for the repairs. What source would you recommend I use to fund this? I need a 6 Month Loan of ~30K. I have the guidance of a retired flipper and a crew that will be doing the repairs ourselves. Any recommendations or other places I should ask this would be appreciated!

@Alexander Arsuaga

I would suggest using private money from either family or friends. If you don’t know of anyone then a hard money lender would be an option as well. Depending on who you use, they typically charge around 12% interest and a few points for the loan. You would have to see if the would be willing to find that small of an amount as well.