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Updated about 8 years ago,

Lee Schram's profile image
Lee Schram's profile image
Lee Schram
  • Real Estate Investor
  • from Northbrook, Illinois
  • Member since Aug 12, 2014
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User Stats

63
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8
Votes
Lee Schram's profile image
Lee Schram's profile image
Lee Schram
  • Real Estate Investor
  • from Northbrook, Illinois
  • Member since Aug 12, 2014
Connect
Lee Schram
  • Real Estate Investor
  • Northbrook, IL
8
Votes |
63
Posts
Private Lending & Conventional Mortgage Advice

Financing Help

Lee Schram
  • Real Estate Investor
  • Northbrook, IL
Posted

BP,

I am having a hard time finding financing for properties I am under contract with because the rehab estimate is double that of the purchase price.  The lenders I have spoken with all say the deal is solid but they can not lend on it because the rehab is double the purchase price.  

Purchase price 35k, rehab 70k, arv 185k

Has anyone else run into this issue?  

Any advice?

Thanks

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