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All Forum Posts by: Account Closed

Account Closed has started 1 posts and replied 2 times.

Post: Pulling money from paid off prop, but bad credit/self-employed

Account ClosedPosted
  • Wholesaler
  • Chicago, IL
  • Posts 2
  • Votes 0

What about income verification? Would a heloc be available and perhaps a better option? Thanks

Post: Pulling money from paid off prop, but bad credit/self-employed

Account ClosedPosted
  • Wholesaler
  • Chicago, IL
  • Posts 2
  • Votes 0

I found a foreclosure to fix and flip. I own 3 properties free and clear, approximately 3x the value of this fixer. 

I'm in the process of repairing my credit after a bout of identity theft. I am self-employed and take out large deductions, so using returns for income verification is a problem.

Do I have any options to pull out equity from these properties, or do I have to turn to hard money to fund this flip?