Columbus Ohio - Private Money Lending
Good Morning BP!
I am in contract on a property in Bexley, Ohio that is less than a mile away from Capital University and has two, two bedroom houses. (a house and a separate carriage house)
My goal is to purchase, rehab, rent then refi...within 6 months. (PRRR) @brandonturner :)
In the interim, I am looking for a investor to lend me the funds.
Here are the numbers:
Purchase Price: 65k
Rehab Cost: 15k
Total Loan: 80k
I am able to put down 10%, so am looking for a loan around 72k.
The project would take a month to complete and would be ready for renters in Feb 2016.
The rental numbers are:
Main 2bdrm: 1000/mo
Carriage 2 bdrm: 850/mo
2 Car Gargage/Storage: 100/mo
I would appreciate any help/guidance here as the seller's are wanting to move quickly on this!
Thanks again,
Steve Baldwin
Core Ohio Realty Advisors