Posted by Ronald * Starr(in no CA) on January 28, 2002 at 23:13:06:
The best places to look for funds of that size at this point in your career is from: family, friends, co-workers, employers, employees, neighbors, co-religious group members. And the people that they know that have money and would listen to their recommendation to loan you the money.
Another possibility, depends upon how much equity you have in your current properties. If you have a pretty big % of equity, you can try the higher-priced lenders such as home finance, beneficial, and the ilk. You could get money secured by the new property, the existing properties, or maybe both.
If you have a good enough income and cash flow from properties to pay off the $13K in a few months, you might consider accepting some of the those credit card applications that come in the mail and use them to help.
You might get an advance on your salary from your employer.
Check your income tax situation. If you have recently bought rental properties, you may have been having a lot too much money being withheld from your salary for income taxes. You might have a pretty big refund due there. Also, adjust your “deductions” so that you don’t pay too much in income taxes this coming year.
Do you have some personal property you could sell for part of the money you need? An extra car, a boat, a lot of bicycles and motorcyles? A coin collection?
A combination of the above might do the trick for you. A $3K here, a $2K there, … it all adds up.
Good InvestingRon Starr**