Where can I borrow 15k?

[Raleigh Lewis]

Hello BP Fam,

I am a new investor looking at what could be my first deal. The property is a 2bd 1 bth shell in Philadelphia, the seller was asking $26,000 I was able to talk him down to $18,000 due to repair cost and a flooded basement.I plan to fix it up and hold for a rental. Properties in the area are renting around $1,000. I viewed the property with my contractor and he told me the job wouldn't be much work and could be done quickly around 2-3 weeks mainly because it is not a big property and the previous owner started repairs.  I saved up enough to go half with A partner and still have around 6k to live frugally ,plus my day job. I am also waiting on a settlement that will recover my investment plus more but no definite date it is coming. My question to you magnificent people is where can I get a small loan for around 15k to fund this rehab? I know most lenders have a minimum of at least 20k but they would probably be hard money and since I am not flipping this property I don't want to be tied to a high interest loan knowing I am not recovering a substantial sum any time soon. Please share your suggestion or past experiences you have regarding this type of funding. Thanks in advance!!!

Raleigh Lewis

[Dawn Anastasi]

You can also try Peer to Peer Lending on sites like Lending Club and Prosper.