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Updated over 4 years ago,
Asset-based lending for 1st property flip in Philly?
Hey all,
Have you worked with any asset-based lenders who don't put as much emphasis on your personal assets/financial statements in Philadelphia area? I'm looking for residential hard money lenders who are reliable and have great rates for a residential flip.
What I'm currently working with:
- PROS: Excellent credit, significant tangential real estate experience (I've been a real estate agent for the past 5 years), enough savings for a down payment on a $150,000 property on my own, plus closing costs
- CONS: No previous direct fix/flip experience, limited amount of personal equity
I'd appreciate any suggestions or even tangential suggestions!