Creative Real Estate Financing
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback
Updated over 5 years ago,
Need a Hard Money/Private Lender Loans Between 50-75k
Hi BP!
I've been finding quite a few deals from wholesalers that have are priced between 50-75k. Unfortunately, I do not have currently have enough cash to buy the property outright, so I will need to rely on a hard money loan. The wholesalers I've been working with require that the closing period be 14 days or less. I found this deal yesterday priced at 55k turnkey, no repairs required, ARV 75-85k. I've called and looked at 10+ hard money lenders online, however, all them require the total loan to be at least 75k.
Does anyone know of a hard money lender who will offer loans lower than 75k and be able to close in 14 days or less? Maybe between 50-75k? My plan is to simply be able to get a very short term loan where I can close in 14 days or less and then immediately refinance with a conventional loan with a lower interest rate.
Thank you,
Shea