Where to get money?
I am working with some investors (as an agent) who have lines of credit available to them for buying foreclosures, etc. It's really not appropriate for me to ask for their connections (conflict of interest) so I'm wondering where I can find investors to offer a line of unsecured credit for my flipping ventures. Can anyone offer recommendations? How do they usually work - equity split / interest / other?
Thanks - you guys are always so helpful.
P.S. Working on a BIG short sale deal in TX - Im so excited! Ron LeGrand is helping me on it - my first one, and it looks to be a good one! 
alarson,
If "Ron LeGrand is helping me on it", then why didn't you ask him? He is a teacher, right? I'm not trying to bash, but I assume you purchased his course. So might as well ask questions.
Anyways, I don't mind answering your question. To obtain a unsecured line of credit, you have to creat repor with an investor or lender. They have to see what you can do before they just give you a line of credit and not expect a return on it.
You may want to start talking to mortgage brokers and see if they can refer you to any good lender that offer investors lines of credit. You should start building contacts in this line of business.
Your contact list should include mortgage brokers, realtors, RE attorney, closing agents, CPA, etc. The lender that the mortgage broker refers may not always give you a line of credit that you may use as you please. You may have to prove yourself to them before they allow you to have an unsecured line of credit. But, once you have done so, it gets easier.
If you want an investor as a partner, then you either offer a return on their money or an equity split. You make the terms and see what both of you can agree upon. Make sure you get it all in writing once you both agree on terms.
Hope this helps.
Tanya[ Edited by tanya1215 on Date 03/05/2003 ]