Hard Money Lender Needed ASAP

[Nick Schultz]

Hi BP! I'm looking at a BRRR and I need cash to make up the difference. Property is $45k with rehab estimate of another $45k. ARV estimate $125k-$130k. I'll buy the property with cash and put in $15k for rehab. I need $30k from a lender to make this deal work. Payback within 90 days. This is a super fast turnaround and I need to commit by 10AM tomorrow morning. Please PM me for more details if you're interested.

[Nick Schultz]

Thanks for the advice and feedback everyone.

@Jonathan Greene I ended up passing on the deal for that very reason. After I taking a deep dive in the rehab costs, there wasn't enough margin to make it worth it.

@Odie Ayaga What is a typical minimum amount for a hard money lender? 

@Rick Pozos Great points. I realize now the post sounded a bit alarmist. I was nervous about committing to my first deal without a clear financing plan, and did not want to get stuck with a property that I couldn't completely rehab. I'm sure I would've figured it out, but was hoping for some peace of mind.