Hard Money or Another Financing Option?
Hey guys, its been a while so take it easy on me here...lol. My wife and I are looking into our first 'Real' flip and I say first real flip bc our current home we are renting from my father in law, we flipped. So our experience is limited, however, I am a painter and maintenance man for a large apartment complex and my wife is a Realtor. So we aren't complete newbs to the whole real estate gig. My question is in relation to financing our flip. We have fantastic credit, above 750, and tons of available credit, over 40k. We only have about 6k in liquid to invest and even that is a stretch right now. We are wondering how we should fund our first flip? We are hoping to stay below 50k and sell to an investor looking for a nice rehabbed rental house to keep our cost low. I can do a lot of the work myself and plan on saving a lot of money this way. We just would want to be cautious and not use hard money if we don't have to bc of the points and high interest, however, we also don't really have access to private money either. We don't have any investor groups in our area and are extremely limited on family and friend resources for funding. Any advice or recommendations would be appreciated!