The property that I am under contract for encompasses four houses across three adjacent lots. The purchase price stands at $229,000 with an estimated rehabilitation cost of $50,000. The after-repair value (ARV) is projected at $428,000, potentially reaching $477,000 if sold individually.

Two houses require rehab, while two are rental-ready. My strategy involves repairing and renting all properties, anticipating a monthly rental income of $4,200 once all are tenanted. Income generation is expected to commence for two houses during the rehabilitation phase upon securing tenants. I was told by the neighbor that 3 houses on the same street were bought by a realtor and rehabbed and now rent for $1600 each.

I've already paid for and attended the inspection last week as well as paid earnest money so I'm currently $2000 into the deal. However, I've encountered a setback as my initial lender has withdrawn (100%LTV), necessitating the search for alternative financing. As a relatively new investor with ownership of one duplex, my aim is to transition to property rehab and the BRRRR method. After a year of research, preparation and saving, this opportunity—featuring four houses within two miles of my current home—appeared ideal. The issues I have run into are lenders not wanting to take a chance on my experience level and also the down payments being out of reach. My credit score is good at 730, and my monthly income shouldn't be an issue either. Lacking sufficient funds for a 20% down payment, I am exploring lenders offering 90%-100% LTC to minimize my upfront investment. With $40,000 in cash reserved for contingencies and closing costs, a 20% down payment would be just out of reach for me. I appreciate your consideration of my deal and welcome any solutions you may have.

Need help seeking BRRRR lender for my deal.

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