I am a real estate investor in the Charlotte area, and I am currently looking at different opportunities to fund a new project we just acquired. We acquired the property at a phenomenal price (house free and clear), and after doing some estimating, budgeting, due diligence and obtaining a CMA from my real estate agent, the ARV for this property has a great chance to be extremely profitable. The property needs a complete rehab, which we estimate will be $50K - $75K. We have a team of contractors and sub contractors in place, as we have done a few properties before that are very similar to our current situation. Basically, we are looking at a very profitable house flip if we do this the right way and don't cut into our margins. It would be profitable for both us and a potential lender.

With all that being said, I am actively seeking financing to get this property rehabbed and on the market. Previously, I have been fortunate to use private money to fund the previous three projects we have completed. I want to take it next step however, as pulling together private money is tiresome and often stressful at times. I would rather receive all funding from one source, as I could really focus on the task at hand.

I have a couple of ideas in mind. I have contacted a couple of rehab lenders in the area, and they all need the same info (scope, CMA, etc). This seems to be the most logical route, but being fairly new investors, there could be some hurdles. We also have $20K-$30K to get started, in which we could fix the place up to "rent-ready" and do a cash-out refinance to finish the job (we have done this before, just very expensive).

Does anyone have any ideas/suggestions/advice on ways to finance this flip? Has anyone worked with any national lenders they would recommend? If so, how did that experience go? Any feedback would be greatly appreciated.

Financing Options in Charlotte area for Full Rehab Project

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