Private Bridge Construction Loan Middleman

[Aaron Froggatt]

We have a seller lead looking to sell their home later in 2020 to free up cash for a construction loan to build a new home that will then be their personal residence. After the sale, the couple wants to rent the property back from the buyer for a period of less than 12 months while the house being built is finished.

The sellers are asking 75% of a 2019 appraisal (hasn't been negotiated yet), have credit scores above 700, and a DTI of 23%. The house is in the West Virginia panhandle and needs less than $1K in repairs to fix a small roof leak in the garage. Otherwise, the house has been updated and well maintained. I did not ask if the sellers have approached any other lenders as of yet.

Please let me know if you or someone you know may be interested and we can discuss any further details privately. We're only looking for consideration for helping connect the lender and seller.

Thanks!

AF

[Andrew Postell]

@Aaron Froggatt  if you know the product you need but just need it in a specific state try posting in that state forum. Bigger Pockets has some great state forums and usually there are good locals that monitor those. Also, try some local real estate meetup groups. Meetup.com is a good resource for those but some post here on Bigger Pockets Marketplace too.