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Updated 3 days ago on . Most recent reply

User Stats

5
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0
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James Omedo
  • Ga
0
Votes |
5
Posts

Need Funding to complete a rehab

James Omedo
  • Ga
Posted

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

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