All Forum Posts by: Amy Atnip
Amy Atnip has started 2 posts and replied 2 times.
Post: Need advice on funding property purchase
- Posts 2
- Votes 1
I am a new licensed GC with no new builds under my belt yet. We flipped a house last year with decent profit. We have come across some property (house and 5 acres) that could easily be surveyed out into the house plus four building lots for spec homes. The plan would be to immediately sell off the existing house and then build four more. My problem is that I don't have the down payment for the conventional loan. What are my other options for purchasing this property if any?
Post: Private lender for flip down payment
- Posts 2
- Votes 1
New member and fairly new licensed contractor looking for advice. I'm almost finished with my first flip. Another property has become available that I'm interested in flipping, but I don't have the cash for the down payment. If I use a private lender for the down payment only, what should the ROI be for him? How is that determined? Is there a split of profit, or is it just a straight percentage of the loan? Thanks for your help!