ARV HARD MONEY LOAN ?

[Jose Trujillo]

Hey everyone ! I am in the process of finding and analyzing deals to do my first flip. I just found and went to look at a deal where the rehab will require more funds than what me and my partner have saved up. We were planning on using hard money from several contacts we have already made, but we only wanted to obtain a percentage for the purchase price. If I go along with this deal I would need some extra funding for rehab. I wanted to ask how hard money lenders usually lend for ARV. I have heard they will do for example, 80% of the purchase price and 70% of the rehab. Is this accurate ? and usually how do they go about disbursing the funds ?

Any tips, suggestions or guidance will be very much appreciated. If you need more specifics on the deal please let me know and ask away. Thanks in advance !!!!