looking for financing under 50k

[Matthew Harrison]

Hello BP...i am just finishing my first complete rehab of a home. Purchase for 15k, put 12k into the reno and beleive the ARV to be around 40k. My plan A is to try and pull a mortgage out of it, 30k, and recoup my investment and retain the rental. However, every time I read or talk about it there seems to be a low point for lending at 50k. Is there anyone that can refer me to a bank or private lender that would provide a mortgage of this size for a property in Redford? My last resort would be to sell because my end goal is to acquire rentals, but in this instance I need to recoup the investment amount at the least. Thanks for any and all feedback!

[Jeff G.]

I have never used him because I keep all my houses in my LLC name but @Jerry Padilla can loan down to that amount. I have talked to him on several occasions as I was figuring out my financing strategy

I personally found a local bank in my are that will write commercial loans at any value.  They also give me a line of credit so I can make cash offers and convert to a traditional commercial loan after closing.