[ezcol_1half id=”one” class=”one” style=””]Most real estate (flip/rehab) investors are only aware of 5 of the 6 top methods of funding their deals.
Could you be missing a golden opportunity for an additional $150,000 in CASH, to be re-invested over and over on deal after deal for years to come?
PRO TIP: Get access to funds before you need them. Start the process now.
Most Common Funding Sources:
1. Personal cash
2. Hard money loans
3. Private investor loans
4. Personal debt (credit cards, home equity lines, etc.)
5. Cash from a business or joint venture partner
Conventional mortgage companies and banks don’t lend on distressed properties.
All of the above funding methods are good. But in real estate investing, you are really only limited by the amount of cash you have access to, so why not use as many methods as possible?!
6. Unsecured lines of credit
One HUGE advantage of our Lines Of Credit (other than their relatively low cost) is that the cash from them can be used for many things prohibited by hard money lenders and private investors, such as:
- Paying your own salary. Go full time!
- Salaries and operating capital
- Marketing / advertising / web design
- Appliances, fixtures, staging, etc.
- NEW businesses/corps are okay (not common with traditional funding)
- 0% interest rate for 6-12 months
- $50,000 – $150,000 per applicant
- Stated Income/Financials (income, tax returns, financials, assets, business plan, etc.)
- NO collateral required
- Approvals within 48 hours, funding within 2-3 weeks
- You will receive a Proof Of Funds letter to present to sellers/agents
You will discuss the program with one of our processing agents in order to determine if this program is a good fit for you and your needs. If so, you will complete an application for lines of credit that can be used for any purpose you deem necessary. This is all done on a STATED INCOME, UNSECURED, REVOLVING credit basis. If approved, credit can be issued in as little as a week, but the entire process typically takes no more than one month to complete.
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- Can my business be organized as any type of business entity?
Yes. You can use a Sole Proprietorship, LLC, S Corp or C Corp. However, banks prefer to lend to individuals that have formed LLC’s or Corporations. Forming a business entity shows the banks that you are serious about your new venture and that you are willing to take the correct steps to legally protect it. Don’t have an entity yet? That’s no problem, we can help get your business started correctly no matter what state you are in.
- How do you achieve results so quickly?
Our program is the result of vast amounts of bank research, credit bureau research, legal consultation and trial and error. Our level of understanding comes from the ability to compare and contrast thousands of applications and the resulting credit granted. It may seem like it’s too good to be true, but in fact the results of our program aren’t magic, they are simply the function of experience, technical knowledge and a lot of hard work.
- What are the minimum requirements for a real estate investor to become a client?
There are no officially set minimums on annual sales to become a client and the lines of credit program is STATED INCOME. However, it is of the utmost importance that you are truthful in your statements of business information as banks will be comparing your statements with their own research and due diligence.
- What are the minimum requirements for a real estate investor to qualify?
The REI’s credit score is the most important aspect, but at least one of the partners in the business should have a credit score of 680 or higher. Banks believe that if you have been vigilant in achieving a high personal credit score then it is likely you will apply the same financial responsibility to your business. Banks want to see consistent repayment history over time and the stronger your credit is the more they will be willing to lend.
- Is there any risk or negative impact on me or my company?
There is no risk to you or your company other than the owner will receive inquiries on their personal credit report and those can have a minimal negative impact on the personal credit score for up to 6 months.