Posted by Sailor on July 02, 2007 at 08:07:08:
Get your 1st deal closed before undertaking more obligations. What is the hold up?
Tye
rei business loan? - Posted by gary
Posted by gary on July 01, 2007 at 23:09:40:
my first flip has been under contract for over 90 days now. i used a home equity line of credit to purchase and rehab the house. since it has been under contract for 90 days and on the market for 140 days im flat broke and cannot afoward to purchase my 2nd flip. my question is are lenders that will give small business loans for real estate investing? any suggestions would be much appreciated.
Re: rei business loan? - Posted by RichV(FL)
Posted by RichV(FL) on July 03, 2007 at 07:25:15:
Gary,
I guess a small business loan is possible in your case. I would say seal this deal up first, then move on to the next.
Also 90 days is a long time to have a property under contract. I dont know what the hold up is but you should work on finishing this one up as soon as possible.
RichV(FL)
Re: rei business loan? - Posted by Mattg
Posted by Mattg on July 02, 2007 at 11:46:32:
never have a 90 day contract.make other agressive moves to sell in 30-60 days. always have aback up plan.as for small business loans-it is possible but you need to show some success in what your doing