What are my ideal lending options (investor in Connecticut)?

[Philip Pape]

As a new investor in CT, I'm looking to flip my first property and would like to understand what lending options are available to me. I've read the BP Ultimate guide, several books, and a number of forums on the subject, but I'm still not 100% clear on what's available for my personal situation.

I have very good credit, good income, and no debt except for a first and second on my primary residence (in other words, I would easily qualify for a conventional mortgage).

But if I found a great deal, say tomorrow, and wanted to close quickly to make sure the deal happens, what are my best options? Let's say I can put 20-25% down on the total financed value (e.g., purchase+rehab cost) or even on the ARV.

Should I pursue conventional, rehab/construction loan (are these available?), hard money, etc.?

[Ann Bellamy]

Any conventional lender including portfolio lenders won't move that quickly. Shop around in CT for local hard money lenders. Go to the CT REIA and other groups in your area. Listen to Podcast 9. Ask other investors in your local area who they use and recommend. Don't work with someone who someone else hasn't recommended.

I don't work in CT so can't help you with actual referrals.