Friend needs help funding the rest of rehab project - 35K

[Adam Craig]

I have a contractor that did work for me in the past who called me yesterday with a problem. Him his brother do real estate and own around 8 properties between the 2 of them.

He called yesterday and said the bank just cut his limit on credit cards in the middle of a rehab. They need about 30-35K to finish the rehab.

The good news is he owns 2 houses free and clear and has lots of equity in the other ones. The problem is he has bad credit so a cash out refi or line of credit wont work on any of these properties.

What would be the best solution for getting a rehab loan for 3-6 months? He can pledge the current property or his free and clear property as collateral.