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Updated almost 6 years ago on .

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1
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0
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Adam Campellone
  • Lincoln, RI
0
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1
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How to obtain rehab loan for flip in Atlanta

Adam Campellone
  • Lincoln, RI
Posted

Hello,

My business partner and I just recently closed on a home in ATL with a conventional 30 year mortgage for 260k. We need to complete about 80k worth of renovations. The arv is expected to range between 470-500k and can be backed with 3-4 comps. This is one of our first flips. I specialize in construction and project management and will be taking this project on full time. Since it is one of our first flips and there is a conventional mortgage, hard money does not want to take second position. Does anyone know If hard money lenders would take something like this on or if we should contact a portfolio lender for the rehab cost? Any other alternative routes or suggestions would be greatly appreciated  

Thank you