HELP! Hard Money Equity Loan?

I currently own a property free and clear… was fixing it up to sell it, now (a year later) it’s 95% complete and I’M OUT OF CASH! I am a real estate agent and since the market is slow, I even took a second job! I applied for a Home equity line of credit through a regular bank…they said i was approved…then at the last minute said i wasn’t approved because the job I took was through a temp service (even though it is full time hours).

I am not having any luck with banks accessing my equity to hurry this project up and give me some breathing room. Any help would be appreciated.

To make things worse, I have just put together an amazing short sale deal that I would like to fund, BUT CAN’T seem to figure out how to make it all work. Thanks in advance.

There are several options available to help fund your rehab project. One such option would be a Hard Money Loan. This is a recommended option only if you intend to sell the property once the construction is completed. If you intend to stay in the property for any length of time great than 6 months, the recommendation would be to seek the help of private lenders. If you continue to have trouble obtaining financing the recommendation would be to save up and self-fund the remaining construction.