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Updated over 5 years ago on . Most recent reply
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GETTING A HARD MONEY LOAN USING NUMBERS???
How is everybody doing?! I hope life is good and business is moving upward for everyone.
I just wanted anyone's 2 cents on this:
I have a deal lined up where the property has the foundation and framing only. I have a specific estimate of how much materials and labor would be to complete the home AND OF COURSE, the market value.
I do not have sufficient capital/ do not want to use my own capital to complete the fix. I want to expand my network and find hard/private money.
I have personal relationships (2) that could be potential lenders BUT I would want to show them a portfolio of at least two flips before offering them an investment opportunity. So far I have one deal done but it was not a fix and flip.
With clear and accurate numbers, could I potentially go to a hard money lender to get some funds fronted?
ANY SIMILAR EXPERIENCES OUT THERE??