needing help on private, conventional or hard money lending on a deal for $33K.

[James Palin]

I have a deal in Fort Worth, TX under contract for $33K.  The challenge is that a lot of banks and hard money lenders won't lend for a loan amount of under $50K.  

I am looking for any conventional lenders or hard money lenders that will loan amount of this size. My repairs are estimated at about $5K to $6K. ARV is estimated at $55K. This is for a fix and flip property.

I am open to any interest of  anyone who works or has connections to banks or hard money lenders who will lend on loan amount of this size.

I am open to sharing the details of with private money lenders.  If you are interested, please private message me and I will send you my proposal.

[Curt Davis]

@James Palin

I am having a hard time seeing how you are going to make any money if this is a fix and flip deal when using private money.  Here is how I see the deal.

$33,000 purchase price and $6,000 rehab totaling $39,000.   You will have closing cost, pay taxes and insurance and most likely private lender loan origination fees totaling around $4,000  so your now in the home for around $43,000.   You will have holding cost of about  $1,300 assuming you can repair and sell within 90 days so now your in the home for $44,300.  If you sell to an investor who pays cash ( best case scenario ) you will pay closing cost again of about $1,000 so your now all in this deal for $45,300 and that is if everything goes perfectly.  If you sell the home to an actual owner occupant you will not pay a buyers agent commission of 3%, they will want/need closing cost assistance and they will do a home inspection and find more repairs needed.  You will be luck to escape the deal.  

To me the profit margin is too slim.

Good luck