I'm running into a weird problem right now. Most people complain that they don't have enough money, but in my case, the issue is more like this - the amount of money I need is so low that no one is willing to help me out!

Let me explain a little more... I found a house here in Central Florida that I would like to rehab and refinance. It's not in terrible condition, but it does needs work! Here's the catch, the house in foreclosure and the seller wants CASH ONLY! Okay, so look at Hard Money Lenders, right? Wrong! Most of them won't lend on an owner-occupied property (I don't know why, I'm a guaranteed buyer!) and the ones that will, when they look at the price tag, they say the loan amount it TOO LOW! It's a strange world, this real estate business! Lol

To give you some better ideas on the numbers; the home is currently listed for $60k. Based on the research I've done, we shouldn't have to pay more than $50k and the actual price is probably closer to $43k. I know this because another property sold in this area for $50k and it's about the same size and same condition as the one we're looking at. As for the ARV, I estimate that to be around $150k when it's all fixed up! Huge upside!! How do I know this, well, there was a recent fix and flip in this area - like literally around the corner - and that house was bought in a similar condition in 2015 for $70k. Something obviously went wrong because it didn't list again until 2019, but when it did, it sold for $143k! Assuming they followed the 70% rule, they shouldn't have spent more than $30k on the rehab, so still, pretty good numbers!

Now, I am going to that property in about 3 hours to look at everything in person. I have one contractor meeting us there on short notice to estimate the job for us, and I've got 3 more who are getting pictures and measurements to give their opinions later. After that, I'll have a more solid number for that rehab, but let's break this down - If I get this place for $50k and put $40k into the rehab, I'm all in for $90k on a property that might appraise at $130k. That's a worst case scenario, and we're still under 70% LTV! But no one wants to fund the deal, and I don't have the money laying around to make it happen on my own... so, if it was you, what would you be doing in this situation?