Suggestions when you’ve used up cash and credit

[Jake Wagoner]

Any recommendations I own 4 investment properties and My first mistake was I bought them before I was educated about financing deals. I used my own cash and used what easy available credit I had to rehab the projects. The issue now is my credit score is 630 and I'm having a hard time finding lenders to finish my investments. A Brief summary all 4 projects (2 houses -1 retail property-1 industrial) totaled $180,000 combined to purchase. Combined rehab cost $450,000 (total of $630,000) Final ARV $930,000 conservatively. I've put in $500,000 of the $630,000. There is currently $110,000 of debt on just two of the properties so when I cash out I should net $690,000 cash. One house did just appraise at $220,000 should be on the market in 3 weeks so maybe that's my way out of the debt to income hole.

[Thomas Ayres]

Im confused, why did you put so much of your own money in the deal? I know your town well and you could point at most the banks and get those properties morgaged a 75 LTV and not care credit score or maybe add a point.

I did just do a flip paid 40k rehabed and sold in 60 dayd for 165k. The bank made buyer get 3 appraisals. They wanted proof of drastic price difference but the deal still closed