Needing Hard Money Loan for Owner Occupied House w 100% equity

[Jim Watkins]

I have a house I inherited in 2015 free & clear. I am trying to find a hard money lender who will lend on a property that is owner occupied. The current comps support an ARV of $210,000 to $225,000. I am looking for approximately $30,000 to $35,000 to cover all repairs/expenses. My intent is to have the repairs completed within 90 days and list it for sale. Again, I have 100% equity in the house.

I was asked why I don't get a home equity loan and the reasons are 1) My credit probably shows me to be a "ghost" since I have not had any sort of credit in the last 7-8 years and 2) I have worked for myself for the last decade and my income is usually in cash so, it would be impossible to prove any consistent income.

I never would have thought that getting a short term loan under my circumstances could be difficult to put together. Especially given the fact that I already own the house and don't owe anything on it.

I am located in Dallas, Texas.

[Jeff Ronningen]

@Jim Watkins 1) don’t advertise in a public forum that you don’t declare your income 2) go legit, start declaring 3) run your credit report and talk to lenders, you don’t know until you try