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Updated about 6 years ago on . Most recent reply

User Stats

50
Posts
18
Votes
Nicholas Reyes
  • Cleveland, OH
18
Votes |
50
Posts

CAN'T FIND REHAB FUNDS......HELP

Nicholas Reyes
  • Cleveland, OH
Posted

Hello everyone,

So far I have reached out to a few HMLs and have had zero success, I recently purchased a property cash in Cleveland, OH. Every time I speak with a HML they say the loan is too small. Take a look at the numbers below and let me know if anyone knows of a lender that would help me out on this. I am planning to BRRR this property. Thank you all!

Purchase price    10k

Rehab cost         30k

ARV 60k

Market rent       800

Most Popular Reply

User Stats

324
Posts
384
Votes
Anna Buffkin
  • Investor
  • Pawleys Island, SC
384
Votes |
324
Posts
Anna Buffkin
  • Investor
  • Pawleys Island, SC
Replied

@Nicholas Reyes  How about wholesaling it another investor for $15k and using the roughly $4k gain (assume $1k in closing and holding spent) to start saving on a down payment for your next project or paying down debt if that is what is holding your credit down?

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