Asset based financing/ private lenders in Ohio

[Chris Davis]

Hello fellow BP members! Question, I am interested in starting investing in real estate again, but need some advice. I have been viewing numerous bank owned properties in Springfield, OH under 20K most need around 10-15K in rehab cost. ARV average is 50-60K. Seeking an investor who will finance the purchase price and rehab cost, essentially 100% financing short term based on the asset value. Is there any lenders/private investors that finance in OH?

[John Horner]

I think almost all investors, including myself, would be reluctant to loan 100% where you have zero "skin in the game".

If you can't save a few thousand dollars to invest then you're probably not ready to jump in yet.

Also, what is your plan to cash them out? Even a refi will require 20% LTC within a year or 2 of purchase.