Financing in Austin>Question Details

TORO, Real Estate Pro in 78746

Have financing set for residential rehab project, good numbers. Short $60k to put on the table. Any ideas?

Asked by TORO, 78746 Tue Jan 6, 2009

Would pay interest on the $60k.

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Dear Toro,
Investors used to use credit cards when it was a sellers market, because they were usually able to do a quick flip. In todays market a quick flip may not be possible. So it is much safer for you and your credit rating to use a normal loan. I am sure Nick will take excellent care of you. I wish you the best of luck and please give me a call if I may assist you in any way. Good Luck!
0 votes Thank Flag Link Fri Jan 9, 2009
Thank you Betina. I will call them and have a talk about the project. On the credit cards, well that was Lynn911 suggesting it, which don't think it might be a good idea, but, thanks for your lead on this. Will let you know how I did with them.
0 votes Thank Flag Link Wed Jan 7, 2009
There are lenders that specialize in this. I suggest you contact Nick Urialdies with Gateway Funding, his phone is 973-789-5148 and his email is I would not suggest using credit cards for this type project, because credit card companies are getting stricter and harsher with penalties for late payments or going over limit. Good luck!
0 votes Thank Flag Link Wed Jan 7, 2009
Most investors use their credit cards for rehab projects.
Web Reference:
0 votes Thank Flag Link Tue Jan 6, 2009
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