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Updated over 4 years ago on . Most recent reply

Derrick Alexis's profile image
Derrick Alexis's profile image
Derrick Alexis
  • Rental Property Investor
  • from Philadelphia, PA
  • Member since Sep 17, 2018
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User Stats

38
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2
Votes
Derrick Alexis's profile image
Derrick Alexis's profile image
Derrick Alexis
  • Rental Property Investor
  • from Philadelphia, PA
  • Member since Sep 17, 2018
Connect
Derrick Alexis
  • Rental Property Investor
  • Philadelphia, PA
2
Votes |
38
Posts
Private Lending & Conventional Mortgage Advice

Philadelphia Flip Hard Money Question

Derrick Alexis
  • Rental Property Investor
  • Philadelphia, PA
Posted

So I’m in the Philadelphia, PA market and have a property I’m partnering on yet the loan amount would be under $75,000; are there lenders who lend on these type of deals in the area or should I look for something else?

Numbers are as followed:

Purchase price: $20,500

Rehab: $50,000 (contractors estimate)

ARV: $96,000 (conservative)- $110,000

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