Low loan amount refinance

[Joseph H.]

I am looking at a property that is being sold for $34,900 and it needs around $6,000 in rehab. T estimates ARV for $50,000, but where it makes up for a low value is in renting. It has a 48% cash flow every month. Can I refinance a loan that small? I am newer to real estate and have talked to hard money lenders whose lowest number they can do is $50,000, and I have heard conventional banks have a minimum limit they can do. What are your thoughts?

[Andrew Postell]

@Joseph Holliway you are correct, they are hard to find.  I know of one in MO that does the 30 year fixed rate thing. Iif you want to PM me I'll share.  Or try posting in the MO forum to see if anybody has a suggestion.  Good luck!