First hard money flip. Help!

[Ben Cantu]

So I am under contract for 230k on  property with arv around 370. Hard money is willing to finance purchase and rehab but I’ll need to bring 30k to closing. I don’t have 30k. Now what? 

[Dustin Olverson]

1. You can get creative and do a Joint Venture will another investor. They bring the money down you share the profit.

2. Ask friends and family to invest $10,000-$5,000 each. With a small return for their contribution.

3. Home Line of Credit and take some of the equity out of your home.

4. Ask the lender to put less money down.

5. Take out a personal loan.

6. Now you have learned the capital requirements for hard money. Stop the process, save money, don’t give up, and try again.

7. If you have a 401K/Roth/TSP see if you can pull a short term personal loan.

Hope this helps and I have done each one of these except the HLOC.