Debt and Equity Financing on a Flip
I have a high-end flip coming up in the Bay Area of California. Looking for funding advice. Here's the situation:
Purchase price: 2M
Repairs: 90k ARV: 2.5 to 2.7M (checks out) Profit: 250-350k I have lenders that will provide up to 85% leverage. This still puts me at a 300k at closing. At this point, our company doesn't have that amount of floating capital. This will likely be a tough one to wholesale, so if I want to capitalize on it, I'll need to purchase it. I have a lender that does do 100% financing, but he might not be able to come through on this one.. Has anyone dealt with a similar situation and were able to come up with equity financing on top of hard money?