Fix n flip loans for smaller amounts (Rowhomes in baltimore)

Baltimore, Maryland
Private Lending & Conventional Mortgage Advice
4yFollow

Fix n flip loans for smaller amounts (Rowhomes in baltimore)

Randy Beharry
Member since 2022 · 7 posts · 5 votes

Hello, i am looking for a fix n flip lender who does loans for smaller amounts. Here is the details.

House price: $25,000

Renovation: $100,000

ARV: $180,000

Im having issues applying for a fix n flip loan because lenders are telling me that the amount of the house is too small but yet again, the total loan is over their minimum of $100,000. Can someone point me to a good lender who would be ok with this kind of deal?

Thank you

1Reply
24 views

6 Replies

Jump to latestLatest
  • Jack Seiden
    Real Estate Agent · Washington DC · Member since 2016 · 847 posts · 654 votes
    4y
    Quote from @Randy Beharry:

    Hello, i am looking for a fix n flip lender who does loans for smaller amounts. Here is the details.

    House price: $25,000

    Renovation: $100,000

    ARV: $180,000

    Im having issues applying for a fix n flip loan because lenders are telling me that the amount of the house is too small but yet again, the total loan is over their minimum of $100,000. Can someone point me to a good lender who would be ok with this kind of deal?

    Thank you


     Try Trius lending out of Baltimore.

    0Reply
  • Camile Case
    Lender · Miami, FL · Member since 2022 · 135 posts · 31 votes
    4y

    @Randy Beharry Do you have experience doing major rehab like this?

    0Reply
  • Randy Beharry
    OP
    Member since 2022 · 7 posts · 5 votes
    4y
    Quote from @Camile Case:

    @Randy Beharry Do you have experience doing major rehab like this?


     I do not. But I have a very experience general contractor/colleague that I trust with the whole process. 

    0Reply
  • Steven J. SlessBusiness Member
    Lender · Towson, MD · Member since 2017 · 185 posts · 25 votes
    4y

    Hello Randy,

    If you're still looking, we can connect and see if we can be of help. 

    -Josh (Trius Lending Partners)

    [email protected]410-580-0870
    0Reply
  • Joe Norman
    Property Manager · Baltimore, MD · Member since 2014 · 1k+ posts · 1k+ votes
    4y

    It sounds like you're looking for a Hard Money Lender, and there are not shortages of them in Baltimore. PM me if you'd like a few referrals.

    0Reply
  • Nicole Heasley Beitenman
    Investor · Youngstown, OH · Member since 2017 · 2k+ posts · 2k+ votes
    4y

    First, you can search the BP lender directory: https://www.biggerpockets.com/...

    But I'd take the deal to a local meetup first. When it comes to smaller deals, the more local the lender is, the better.

    0Reply
Join the conversationCreate a free account to reply, vote on answers and follow this thread.
Log InJoin for Free