Shopping for lenders

[Jim Henderson]

This is my first property purchased purely as an investment.  I have done a handful of live-in flips and I have one other rental that I moved out of before putting a renter into it, but this is the first time I've picked up something that I don't ever plan to live in, purely because I ran the numbers and liked the plan.

It is a SFR in Salt Lake City that went to auction. I picked it up for $111,000 using hard money (2% up front, 12% interest, 5 months). I am doing $25k in rehab to make it a 4 bed/2 bath and then I want to refinance and hold for rental. I expect the ARV to be $160k. Market rent for a 4/2 in this neighborhood is about $1400.

My problem now is I want to get back as much of the money I've put into it as possible when I refinance. My credit is in the low 700s. The lender I've been talking to will give me 75% LTV but I want to find a lender that will give me more than that. Where do I find a lender that will give me more?