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Updated almost 9 years ago on . Most recent reply

User Stats

33
Posts
7
Votes
Tim Mensch
  • Real Estate Agent
  • Fairless Hills, PA
7
Votes |
33
Posts

Hard money Lender near Philadelphia/Bucks County

Tim Mensch
  • Real Estate Agent
  • Fairless Hills, PA
Posted

I've been reading many posts on HML's in the Philly area but can not find anyone who has personal experience with one. Has anyone used a hard money in Philadelphia. I recently acquired my real estate license and affiliated with a broker. I have a potential first flip near my primary residence that i would like to put an offer on but i only have a limited amount of liquid assets available. I was approved for a line of credit but this would only cover my rehab costs. I tried finding a private lender to fund the rehab but only found a few people with 20k to invest. The property is listed at 120000 and needs about 55000 of work with an ARV around 230000. After going through my options, I'm thinking a HML is the only route possible to get me into the game. Any connections or advice would be greatly appreciated.

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