Anything 75-80% LTV for purchase and rehab?

[Nicholas Marinos]

Greetings everyone long time reader 1st time thread starter and new to investing....started 5 months ago and just locked up my 10th and 11th property yesterday! 💪

Actually it was 2 houses from same owner yesterday. Both are basically rent ready but I plan on doing $4k to one and about $2k of work to the other, just to make them perfect. I'm getting the one for 72% LTV the other for 70% LTV.

Is there such a thing as any private, banks/CUs, HML who will lend 75-80% LTV plus points? Basically so the extra difference covers the rehab, as they are not needing a true rehab. Then cash out refi after the 6 month seasoning at 75%. Then pay off the transactional lender plus whatever I need to come to the table out of my pocket.

For lending purposes these are in New Port Richey, FL

#1

Purchase $90k

Rehab $2k

ARV $125-130k

Rent $1000

#2

Purchase $80k

Rehab $2k

ARV $115-120k

Rent $950

So basically get/find a lender who will lend off the actual appraised value for 75-80% if such a thing exists? Or is this a unicorn.

Thanks,

Nick