Opportunity - Need Help

[Julian K.]

I have an opportunity to purchase a home around 350k from a seller I know. The home is as is, so it needs some repair. The ARV would be around 530k. I am thinking the repairs would be 80k.

How should I go about getting a loan?  I understand that conventional loans doesn't account for repair needs.  

Also, how should I present the offer to the seller considering that this isn't all cash?

Thank you

[Dekota Oechsle]

Depending on the types of repairs needed you may or may not be able to get a traditional mortgage for the property.  Private lenders may be your only option.  Some lenders may have a rehab/ construction type loan that can finance the purchase and repair costs but have a 6-18 month balloon that would require a refinance.  There are lots of options out there it just depends on the deal.

What type of repairs are needed?  Structural, roof, mechanicals, cosmetic? 

[Julian K.]

mainly cosmetic: stained floors, repaint, may need to replace carpet with hard wood, resurface cabnets, new shower, repatch water damage.  thanks