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Updated 7 months ago,
Best Hard Money Lenders For First Flip
I am looking to purchase my first flip. I am currently negotiating with the sellers. I have been in contact with a few lenders, and hard money lenders. I am curious to know if anybody has a good lender they would recommend for a first time investor? The deal I am currently looking at is purchase price between 50k-60k. Rehab between 75k-90k. ARV 205k. The goal is to flip it, but alternative exit strategy would be to refi into long term hold.
Ideally the lender I am looking for needs to work with first time investor, and also okay with the amount of rehab needed. (a couple lenders have told me it is to big of a rehab for a first time investor).
I have 25k in reserves, and need a lender that is okay with that.
Any advice would also be appreciated!