Buy and hold financing

[De Von Gaines]

I am a looking to find funding for buy & hold partners or private money lenders. I am located in a unique area of the DMV (D.C,Maryland,Virginia), so I am accessible to these areas as well as West Virginia. I was wondering if the B.P. community could help point me in the right direction of this process. I'm not sure how to locate them, what documents I need to present to them(besides deal analysis). I currently have deals that I would like to pursue but feel hesitant because of this issue. All help is GREATLY appreciated!

[Michael Glist]

The big thing lenders will look at is purchase price, rehab cost and ARV. They will typically want you to be at 70% of ARV for the purchase price and rehab cost.

You will typically need to provide ID, application (they will provide this), corporate documents if going into LLC name instead of individual, 2 months bank statements showing available funds for down payment, fees, points, as well as typically 3-6 months reserves to ensure you are able to make the interest only payments while fixing up the property and before it sells.

Any other questions or if you would like more detail feel free to ask.