Skip to content
Two investors reviewing resources on a laptop

Get industry-leading resources — for free

Unlock resources for every investing strategy and stage with a free account.

By continuing, you agree to BiggerPockets LLC's Terms of Use and Privacy Policy

Followed Discussions Followed Categories Followed People Followed Locations
Creative Real Estate Financing
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

User Stats

89
Posts
34
Votes
Season Price
  • Flipper/Rehabber
  • MD
34
Votes |
89
Posts

Creative options for down payment on HUD purchase

Season Price
  • Flipper/Rehabber
  • MD
Posted

Hi. I was able to get a HUD rehab under contract recently/ Fortunately, or unfortunately, two of our other deals went through at the same time. We are in a dilemma when it comes to the down payment since all of these are going to be closing around the same time. I had originally posted about GAP funding, but I am realizing that although there are companies who do it, they are hard to find apparently. So, now I am here looking for creative alternatives so we can get all three deals to the closing table. A heloc is not an option. What other options are there for personal, or LLC funding we can take to the table? Thank you

Numbers (in case they matter)

Purchase: 210k

rehab: 60k

ARV: 404k

down payment and closing: about 50k

Most Popular Reply

User Stats

2,749
Posts
6,191
Votes
Scott Trench
#3 Personal Finance Contributor
  • Rental Property Investor
  • Denver, CO
6,191
Votes |
2,749
Posts
Scott Trench
#3 Personal Finance Contributor
  • Rental Property Investor
  • Denver, CO
Replied

Here are some options: 

1) Attend the local RE Investing Meetup in your area (or contact the host of that meetup) and ask if there are any private lenders. 

2) Consider using a hard money loan. 

3) If you have a 401(k), you can borrow against that. 

4) If you have after-tax brokerage stock accounts, you can take a margin loan and repay it.

I'm sure there are more, but hopefully this is a good start to the discussion - look forward to seeing what others suggest. 

Good luck!

Loading replies...