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Updated about 8 years ago,
Newby question on private lending
Hi, I'm currently looking at buying a home in West Palm Beach FL, ideally a home that needs some work done to it. I would like to do much of that work myself having flips dozens of homes with my family back in Montana. Pluming, electrical, tile, mold remediation, and roofing I'd hire, but most cosmetic, flooring, painting, even kitchens I've done before.
My questions are:
1) Do private lenders lend for owner-flipped homes?
2) Can I avoid any of the traditional closing costs or PMI or other fees that go along with traditional loan programs?
3) If I have good credit is there any reason or advantage for me to go with a private lender over an FHA first-timer loan?
Thanks so much