Private Lending & Conventional Mortgage Advice
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback
Updated over 8 years ago,
HML needed in Ohio for newbie
Hi..I bought my residence from the local landbank. I paid 2k for the property, put under 25k (of my own money) into the rehab and now its appraised at 90k. I would like to repeat this, but this time sale the property. Ive already seen 2 properties that I am interested in. One is HUD and the other is a foreclosure. At most I would pay maybe 25k-35k for one of the properties. Rehab would roughly be 25k at most just for cosmetic work. The homes are around the corner from each other and the comps are pretty much the same 85-98k. But that's what the average asking cost is without any recent updates to the house. Thing is I need a hard money lender to help. I am aware of the points, and am able to pay the monthly interest as most lenders ask. This is my first time. How can I get this started? I'm in the Cleveland Ohio area...Thanks!