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Updated almost 3 years ago on . Most recent reply

User Stats

75
Posts
75
Votes
Scott Lepore
  • Flipper/Rehabber
  • Littleton, CO
75
Votes |
75
Posts

financing on a log home

Scott Lepore
  • Flipper/Rehabber
  • Littleton, CO
Posted

I have a lead on a large log home about 45 minutes southeast of Denver. It seems to be a good deal at the price i could get it for but there is a big butt in the way; There are no other log homes for miles. The lots are huge and spread out so its not like it doesn't fit in because you don't even see other neighbors' homes, but my concern is that a lender will need relevant comps when its time to flip it and when I find a buyer they won't be able to get a loan on it. It would have an ARV of around 1.2MM and other homes are in that range but are all traditional construction. I would appreciate any advice on how difficult this may be and if anyone has had experience with this. I plan to call a few banks as well but would appreciate any feedback here as well. Thank you.

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