Houston: Funding for a duplex conversion.

[Alejandro Flores]

I need help with funding this property, my first private lender was not able to help me out since they are having some issues, so I'm writing this for to find help or tips on what to do.

Where I'm at:

I just started my realtor career so my tax will not be able to qualify.

 I have done one fix and flip made 8k 

Work as well at family business (beauty supply store)

What I have done to find money for this deal: 

• Home equity line of credit - wasn't able to qualify since the tax returns show's poor return. I and my family own a beauty supply store that cash comes in 14k-17k a month but don't report it everything which we will this year. 
• Bank loan on a conventional - neede 30k and I do have but tax return will show poorly
• Went to my lender and couldn't fund my deal this time

The deal:

2bedroom 1 bath 880sqft with a detached 2 car garage (350 sqft). selling at 55k will buy it at 45k very sure. 

Will make the garage in to a livable home 1/1 will add 300sqft space.

the primary house will be 3/1 at 1100 sqft (if budget allows it) 

Rehab: 90k  

Arv for a duplex: 165k  

Initial equity: (30k)

Monthly rent: 2,000-2,150$(monthly)

Gas,water,taxes,repair : 350$(monthly)

Would like a 30-year loan

All I need is to fund this and would like to get some insight in how to do it. Will not be able to refinance since the tax return shows low. 

[Jason Hirko]

@Alejandro Flores This seems like a pretty straight-forward hard money loan, however, when you're looking at spending 200% of the purchase price on a rehab, be ready to show some experience with a project of that magnitude.