Investor need Hard Money loan

[Fredrick Jackson]

Hi, I am new to The BiggerPockets forum and I have been a member for almost one month. I have spent most of my time watching videos, and enjoying learning from other investors experiences. I have decided to stop reading and commit to taking some action steps every week to move closer to my goal of creating a strong real estate portfolio. Which brings me to why I'm posting. I have a client/investor who has properties in NY and Florida. The subject property is located in Lantana, Fl and it's a single family 3/2 with 2 car garage the owner paid cash 90k. I am a Realtor in South Florida(SL3232820) and I'm very familiar with this area and this property; in fact I helped the owner find this deal nearly 4 years ago. The owner is looking to take 100k cash out to pay off some debt and rehab the property(20k). The owner would like a No Doc, No Credit check loan to pay off debt. Owner is not "bankable". However this home has a ARV of 270k. The owner has 180k worth of equity in the property, and this gives a lender a chance to take 1st Lien on this property. Please help me help this investor tap into equity. I plan on taking pictures of the property within the next couple of days. 3/2 with 2 car garage 914 Julia Heights Lantana, Florida 33462 Paid 90k in 2014 The home is currently free and clear!! Comps: Across the street from subject property same floor plan $270k 5/5/2017