Rehabber Financing - Non-Hard Money

Financing, Hard Money Lenders, Private Money
1

Hello All,

Currently I have been renovating/resell(flipping) houses for 5+ years now in Atlanta,GA. I find alot of good deals but have to pass on them due to cash being tied up to other properties. I have never used hard money as stipulations such as high interest, points, fees eat up my profits.

Trying to find ways to extract money from projects that are in progress/or completed. Speaking with local back I am having difficulty since all homes are in LLC name and can’t get a standard home equity line/loan. I am looking at ways of obtaining financing that do not require extremely high interest rates(15%) and 5+ points. Any ideas would be helpful.

2

There is a old adage in this business… “If the deal doesn’t make sense with a hard money loan it may not make sense at all”

If you can’t make the deal work with the acquisition and carrying costs associated with a hard money loan it is possible that the deal is too thin. I am not saying that you won’t make money but rather the risk may be greater.

Good luck!