Hard money Lender says not worthwhile to lend

[Derek Sorto]

Hello,

The scenario:

I found a two family property in which the purchase price is 85,000 cash. It has an approximate ARV of 105,000. Seller says no money would need to be invested for repairs (I doubt that). I have driven by and looks like its in decent shape from the outside. it currently has renters as well. Looking at the interior pictures, seems to be in decent shape also.

HML says the loan is too small since they would lend me 90% of the purchase price (76,500) and it would be too much work for little return. I understand that part..

first of all would this be a good deal in your experience?

How creative can you get to purchase this property?

[Jason D.]

@Derek Sorto if this is a listed property, and its sitting for $85k, how can it be worth $105k? Value is market driven so, obviously, if it was worth $105k, it would not be sitting, unsold, at $85k