Suggestions on a new approach

[Cory Benedict]

I had a property presented to me for a rehab. Purchase price was $28k, roughly 16-20k in work and around a 70k ARV with support that it could be going higher because of the current market. Seems like a good deal, and even the investors I work and mentor with saw the potential in the deal.

My issue is this, I was going to use hard money for the deal and everything was set and approved, until the appraisal came. My lender spoke to an appraiser who didn't actually visit the property, just gave negative feedback about the property and claims of rot and other issues that didn't exist, and I know this because I walked through it already and took pictures, along with some outrageous numbers for repair and under valued it as well. This in turn pushed the lender back from the deal. I worked to try and push for a new appraisal and it just didn't happen.

I need ideas of another way to fund this before the property sells. I have private investors but they are tied up in other projects and unable to lend.