Wholesaler fees and hard money

[Charles Kao]

Does anybody know of a hard money lender that will allow you to wrap purchase price and wholesaler fees into the loan. I offered on a property and after seeing the wholesaler fee I noticed the fee was 24k. Based on how the documents are signed the purchase price is 88k with a wholesale fee of 24k. So just to get the house I am looking at 33k in downpayment and wholesaler plus 35k renovations it is more than I expected. What I am hoping for is a lender that will loan to me based of a 112k purchase price and not the 88k.

[Rod Hanks]

Doesn't sound like much of a deal if you have to bring 30k to closing. Most hard money lenders will balk at a 24k assignment fee. If the numbers fit 65% ARV minus repairs there are a lot of hml's that will fund 100% or close to it.