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Updated over 3 years ago on . Most recent reply

User Stats

31
Posts
12
Votes
Rikako W.
  • Rental Property Investor
  • Union City, NJ
12
Votes |
31
Posts

Hard Money Lender / Contractor rec needed in Philadelphia ASAP

Rikako W.
  • Rental Property Investor
  • Union City, NJ
Posted

Hello BP, 

I need recommendations for Hard Money Lender and a contractor in Philadelphia, PA. 

We have a legal 2-family house under contract in Roxborough, Philadelphia. It's NON-move-in ready and we cannot find any conventional mortgage lender who would lend to us. (Seller started the rehab but quit in the middle, and it's missing kitchen and bathroom. I wrote about it in this BP post.) It seems that we have to go to HML. We plan to buy and hold (NOT a flip).

Purchase price is 195K, we estimate repairs to be 15-25K, and ARV of $275K.

This is our second deal. Our 1st was a 2-family house-hack in Union City, NJ. We bought it using FHA, renovated it, and refinanced into conventional.

Any input / advice / recommendations is appreciated. 

Thank you!

Rikako

Most Popular Reply

User Stats

451
Posts
307
Votes
Mike B.
  • Flipper/Rehabber
  • Yardley, PA
307
Votes |
451
Posts
Mike B.
  • Flipper/Rehabber
  • Yardley, PA
Replied

Call Spring Garden Lending. Very easy to work with

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