Financing/Funding Assistance To Scale

[David Thornton]

Looking for help and advice on how to get more folks to help fund us. We just completed another flip and is on the market! 

https://www.realtor.com/realestateandhomes-detail/15-Alexander-Rd_Bloomfield_CT_06002_M39130-59956?cid=soc_shares_fs_ldp

I completed 90% of the work myself and only took 4 months working part time: Nights/Weekends. I have completed over 7 flips and need to scale. Just quit my 9-5 for multiple reasons and desperately want to do this full time. 

Help/Advise?

Thanks Pros!!!!!

[Katie Smith]

Hi David, nice work! I really like the bathroom with the walk-in shower, it turned out great.

Quick question - what kind of funding are you looking for on your next project? Were you covering the previous ones out of pocket, or have you used any fix & flip loans before? A fix & flip loan might be a good fit for you. Many lenders will go up to 90% of the purchase price and 100% of the rehab budget.

One thing to watch for is whether the rehab funds are “non-dutch” (so you’re not paying interest on money you don’t have yet). Some lenders also only require a soft credit pull and a virtual inspection instead of a full appraisal, which can make the process a lot smoother. Happy to help.