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Updated over 5 years ago,

User Stats

14
Posts
3
Votes
Shea McCavit
  • Rental Property Investor
  • Indianapolis, IN
3
Votes |
14
Posts

Need a Hard Money/Private Lender Loans Between 50-75k

Shea McCavit
  • Rental Property Investor
  • Indianapolis, IN
Posted

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

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