Need advice with non-bank financing options - fix-and-hold

[Chris Jackson]

Hello all! I am about to make an offer on a REO 4-plex, hopefully for around $80K with $50K rehab work. Anyway - I was talking with Visio lending and was just wondering if there are any other good companies that would loan on this sort of a fix-and-hold? The only thing I'm not thrilled about with Visio is that they want to charge $3,500 origination plus $1,500 for the underwriting. Is this what I should expect from these sorts of companies, or are these fees a bit high? I am going to go talk to a local bank shortly about what they have to offer, but I'm probably needing somebody who is going to evaluate the deal, not my DTI ratio, which I think is going to be a problem when I go talk to the bank.

Has anybody had any success with Visio and/or any other companies?  I talked with Realtyshares, and they won't loan under $150K which is another problem, since I am hoping to be all-in at around $130K.