Rehab loans for BRRR property - Charlotte, NC

[Daniel Jenkins]

Hi All -

I'm looking at buying an off market fixer property in Charlotte for around $150k with an ARV of +$250k with a rehab of around $60k. I'd really like to keep it but would prefer not to tie up capital in purchasing cash and rehabbing using cash.

Can anyone suggest any funding strategies and connections that might be able to help with a rehab loan to best structure this deal?

Thanks very much.

DJ

[Andrew Postell]

@Daniel Jenkins usually a hard money lender (HML) will lend you about 75% of the ARV. So in this scenario you would receive a loan of $187,500 (or so) from your HML and come out of pocket the rest. Then you would refinance that HML into a long term loan on your REFINANCE step. That's the basic outline of it at least. I hope that makes sense.