new to business

General Real Estate Investing
1

Hi new to chat. i am trying to get into the business but having trouble getting financing. First, I live in deep south Texas.
I have bought three homes in 6 years and have made a minimum of $20k per home ( i live in them fix them up and sell after two years). I currently bought a home $35k under county appraisal, fixed up and got an apparaisal for $86k more than what i bought it for. this was not a fluke i specifically looked for a deal that would give me that kind of equity. I also got the home owner financed at 7%.

I guess , i am trying to say that i know my market and what to look for in my area. I have worked in the construction business and have built about 50 homes.
But still have trouble getting financing due to credit. ( bottom fell out after my 2 boys got diagnosed with autism. ) I feel this is the business for me and need to be in a flexable type of business due to kids. Any suggestions on how to get financing to get in the game.
I just made a contract for a nice home that is selling for $48 a sqft. cheap! I figure it needs about 5k-8k in updating. Trying to get financing to flip this baby. Will sell for minimum $60sqft.
ANY Suggestions will be appreciated.
Thanks for your time and consideration.

2

Get a good steady job for two years!

3

Hello, Where in South Texas are you located? It sounds like you have experience in home building. Have you considered larger projects? Say a land development project. I work with commercial property investors and lenders. Considering your situation at home and your desire to proceed, this could be the direction for you.
Just a suggestion.

4

thanks for your help. I have a job. (what exactly did you mean by that) I have owned a pest control business for seven years, that mostly concentrates on preconstruction termite treatments.
Done well. untill the boys diagnosed. just havent had the time to keep the realtionships like i used to. that is why i am looking to this type of business. Need to find a way to get financing.
would love to work on larger projects etc., but NEED to be somewhat flexable for boys.
any suggestions?

5

I forgot to mention i live in McAllen, Tx (5-10) min from border of MX.