Recommendations on lenders

[Joshua M Cummings]

Hey Everyone!

This is my first post on BP in a while. The past few months I have been focusing on wholesaling in the Summit County area, working on building up a list from driving for dollars and looking for FSBOs from different sources. 

In the event that I locate a property I would like to purchase myself (still saving up from purchasing my primary residence) and follow some rendition of the BRRRR method, what are some good loan options for doing that? I've seen some people say construction loans, FHA 203(k) loans.... If both/either of these work, any recommendations on lenders that are good to work with for this type of project?

I know private money is a preferred method at times, and I intend to use it, I'm still working on building my network to find private money that has enough capital to fund a deal + rehab.

I appreciate any help!

Sincerely,

Josh

[Andrew Syrios]

Usually you get an FHA loan (or 203k which is just an FHA loan for properties that need rehab) through a bank or mortgage broker. If you have a banking relationship already, I would ask them about it or go to your local REIA and ask for which banks people are having success with and go to them. But most banks should have someone who can navigate you to getting preapproved for an FHA loan.