Funding ideas for a flip

[Nicholas Frank]

Hey everyone, my name is Nick and my business partner and I have a flip under contract. It’s a pricier one than any flip we’ve done prior. 185k purchase price with about a 95k rehab. I had been previously prequalified by a bank who would lend 80% of the after repair value so if we bought it right we wouldn’t need a down payment. The arv on the property is 375k so it would work. The lender has changed their qualifications now and are only willing to lend 80% of the purchase and 80% of the rehab. Which I know are still good terms we just have all our money tied up in other deals. Does anyone have  any other ideas for financing a flip like this? I do have equity in another property that I could use. I’m just trying to see what other options there are.  Thank you!!

[Will Barnard]

If the lender will not, you have option to cross collateralize other assets with equity, unsecured lines of credit, HELOC from your primary residence, owner carried note from seller, private investor or other money partner, credit cards to fund rehab, etc. Lots of options, get creative but be cautious on overleveraging yourself, that can be very dangerous financially.