Skip to content
×
Try PRO Free Today!
BiggerPockets Pro offers you a comprehensive suite of tools and resources
Market and Deal Finder Tools
Deal Analysis Calculators
Property Management Software
Exclusive discounts to Home Depot, RentRedi, and more
$0
7 days free
$828/yr or $69/mo when billed monthly.
$390/yr or $32.5/mo when billed annually.
7 days free. Cancel anytime.
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Private Lending & Conventional Mortgage Advice
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated about 2 hours ago on . Most recent reply

User Stats

52
Posts
14
Votes
Stewart VanValkenburg
  • Provo, UT
14
Votes |
52
Posts

Looking for a lender for a flip loan in a small town in Utah

Stewart VanValkenburg
  • Provo, UT
Posted

I've got a flip lined up in Redmond Utah. My normal hard money guy said no because he doesn't do small towns. My second guy said the same. I called a dozen lenders yesterday and they said no because:

Small town.

Small amount (purchase price is 97k)

They don't deal with those kind of properties (Half the house is a mobile home on land, built in '72. The other half is a typical stick frame house built in addition.)

Too short of a timeframe. (closing this week)

Comps put mobile homes at 160k and regular homes at 200k. Aiming for 10k in renovations.

1700 sq ft 3 beds 2 baths

Anybody want to lend on that?

Loading replies...