This will be my first flip under my own name, and I’m excited to make it happen.I’ve got a great deal lined up in Miami, FL, in a strong neighborhood with solid comps and demand.Here are the numbers:Purchase Price: $699kRehab Estimate: $150KARV: $1.1M–$1.25M (conservative)Comps:House 3 blocks away (1,888 sqft) sold for $1.25MAnother ~2 blocks out (1,752 sqft) sold for $1.19MOne about 3 blocks away (1,314 sqft) sold for $1.1MMine is 2,032 sqft — larger than all of them.My question is: Can I realistically get this funded?

Hey BP community,I’m exploring a creative financing strategy and was wondering if anyone here has firsthand experience with this approach — or any insights on potential pitfalls or advantages.Here’s the general idea:Use a securities-backed line of credit (SBLOC) against my investment portfolio to purchase a rental property.Once the property is stabilized (rented and possibly improved), do a cash-out refinance to pay back the SBLOC and effectively recoup my initial investment.In theory, this seems like a way to:Move quickly on deals (cash offers are attractive)Avoid triggering a taxable event by selling securitiesRetain the upside of the invested portfolio while acquiring real estateBut I’m curious:Has anyone on here actually used a securities-backed line of credit (SBLOC or similar) to purchase a rental property?

Market rent (CMHA voucher) is $1,550.Questions for the hive mind:Any hidden costs Cleveland rookies miss (water lines, point-of-sale)?

When I look up the address online the home is described to be included but the boundaries of the address on (njparcels.com) shows the building just outside the property line.

I am looking for something along the lines of a fixer upper.

Both strategies you mentioned have their merits, so the best choice depends on your goals and risk tolerance:Pulling all the cash out (cash-out refinance):Gives you a lump sum to put toward a multifamily down payment.Simplifies your focus—less juggling of multiple loans or lines of credit.But it can increase your monthly payments and debt service on that property.Using a Line of Credit (LOC) and BRRRR strategy:Keeps your cash flowing and allows you to recycle funds multiple times.You rehab, refinance, pay back the LOC, then move on to the next deal—building momentum.Requires more active management and discipline to execute well.My take:If you want to aggressively scale and are comfortable with more hands-on management, the LOC + BRRRR approach can maximize your buying power over time.

Their forms are legally vetted and comprehensive.Bottom line: having the right paperwork upfront prevents headaches down the line — especially when things go sideways.

It appears to me the owner was in foreclosure with Chase but was able to get a 1.5M equity line out with FINANCE OF AMERICA REVERSE LLC.

The resulting damage required repairs costing over $3,500.Sewer Line Replacement: During the shower remodel, broken tile pieces and debris from the GC’s work were found clogging the sewer line, necessitating a complete replacement at a cost of over $3,900.Additional Issues: Poor workmanship also led to defective toilet installation and a leaking kitchen sink, further increasing repair expenses.In total, the GC’s negligence has cost me over $10,000 in repairs and corrective work, in addition to the original rehabilitation costs.

This is a nice urban area with tree lined streets and very close to the CA capitol and several hospitals.