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Updated over 1 year ago on . Most recent reply

User Stats

25
Posts
9
Votes
Michael Bieler
9
Votes |
25
Posts

Looking For Hard Money Lender

Michael Bieler
Posted

I am a flipper In southern indiana. Currently flipping 2 homes, just closed today on the second. My issue that im having is my lender states that bc im getting properties for say 50k, with a rehab budget of 45k it's not worth it to them running interest only payments. They are looking for bigger deals. Is this normal? I feel like I'm being punished for getting properties on the cheaper side. Mind you ARV is 150k plus. Is there any lenders out there who are not going to be a pain with these types of deals ? Credit score 780, never a late payment on anything etc. if there are lenders out there please message me your origination fees, interest rate for say 6- 12 month term. Looking for 90% LTV with 100% rehab. If 100% funding for the whole project is a possibility even better! Looking to connect as soon as possible.

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