Traditional lending and rehab?

[Patrick Boutin]

Hey guys,

I was curious about one thing. I was wondering if there are any traditional lenders (big banks, etc...) that do lend money on rehab properties or are cash, hard money lenders, owner finance and private money the only options when it comes to financing a rehab/flip?

If there are, which are they and what terms do they typically offer?

Thanks everybody!

[Brent Coombs]

@Patrick Boutin, if you become pre-approved for $400k (per your example), @Chris Mason was implying that you should aim for your PURCHASE price to be about half of that (so as to give you LOTS of "wiggle room" for the rehab costs that you're asking about).

A healthy rehab budget can be your best ticket to (cleverly) add a LOT more value to a distressed property than the rehab actually costs. Now THAT'S investing, with other people's money! Cheers!