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Updated 2 days ago,
Need Funding to complete a rehab
Hi lenders,
My name is James, and I'm a relatively new investor with a promising property that I'm currently renovating. This project has a lot of potential, but it's taking longer than expected because I'm funding it solely with my W2 income. The progress has been slow and challenging, and I realize I need some assistance to complete it.
I owe about $75,000 on the property, which is owner-financed. I'm currently paying $800 per month at an interest rate of 6%. With some help, I am confident I can finish the renovations and turn it into a short-term rental that will generate immediate cash flow. I have experience with rental arbitrage on a neighboring property, which has been very successful.
Unfortunately, my credit has taken a hit due to a recent divorce, making it difficult to secure traditional financing. Even BP couldn't match me with a lender. I'm reaching out as a last resort, hoping someone will take a chance on me and help me get to the finish line. If you have any advise or can help, please reach out
Thank you for your consideration!
Best regards, James