"I have a business but, I need to start a new one"
Hello-
I am back after 5 years and I have to Thank this website for helping me get my business started right. I worked on the side a s a consultant since 1996 and in 2001 I stopped working full time and did my own consulting. I have more than tripled my earnings and I have bought my first home and own land. Anyway I have learned how to run my own biz but I need your help once again to start up my new passion which is flipping houses.
I have worked with a friend for the last 6 months and he is making tons of money doing this. I need to get some kind of credit line or loan so I can go to an auction and purchasee a home. I would like to have about $250k available. How can I get this much cash on my companies gross income and current home equity? I tried the SBA loan thing but, the guy on the phone says they don't lend out money for stuff like this. I alone gross about 180K a year working part time but, I rather fill the rest of the time doing this kind of work and making more money. Can anyone help me on how to finance my new venture?
#1. "RE: I have a business but, I need to start a new one" In response to Reply # 0
How much equity do you have in your house? That is the key question, on the other side, be careful putting all your eggs in 1 basket with flipping houses. That is a risky business in an inflated market.
#2. "RE: I have a business but, I need to start a new one" In response to Reply # 0
You may want to consider hard money....or an alternative program for new investors. I have a real estate services subsidary and flippinghouses is very rewarding at times (sometimes its a big headache). If interested in discussing some options, feel free to contact me. >Hello- > >I am back after 5 years and I have to Thank this website for >helping me get my business started right. I worked on the >side a s a consultant since 1996 and in 2001 I stopped working >full time and did my own consulting. I have more than tripled >my earnings and I have bought my first home and own land. >Anyway I have learned how to run my own biz but I need your >help once again to start up my new passion which is flipping >houses. > >I have worked with a friend for the last 6 months and he is >making tons of money doing this. I need to get some kind of >credit line or loan so I can go to an auction and purchasee a >home. I would like to have about $250k available. How can I >get this much cash on my companies gross income and current >home equity? I tried the SBA loan thing but, the guy on the >phone says they don't lend out money for stuff like this. I >alone gross about 180K a year working part time but, I rather >fill the rest of the time doing this kind of work and making >more money. Can anyone help me on how to finance my new >venture?
#3. "RE: I have a business but, I need to start a new one" In response to Reply # 0
Yes, to raise that kind of capitol you are looking at getting a hard money lender. I know of a private company that will be able to fund you with everything that you need, they might be exactly what your looking for. Contact me at thebachelor29@hotmail.com and I'll give you his info.