Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 54%
$32.50 /mo
$390 billed annualy
MONTHLY
$69 /mo
billed monthly
7 day free trial. Cancel anytime
×
Take Your Forum Experience
to the Next Level
Create a free account and join over 3 million investors sharing
their journeys and helping each other succeed.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
Already a member?  Login here
Classifieds
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated 3 months ago on . Most recent reply

User Stats

52
Posts
15
Votes
Stewart VanValkenburg
  • Provo, UT
15
Votes |
52
Posts

Looking for a lender for a flip loan in a small town in Utah

Stewart VanValkenburg
  • Provo, UT
Posted

I've got a flip lined up in Redmond Utah. My normal hard money guy said no because he doesn't do small towns. My second guy said the same. I called a dozen lenders yesterday and they said no because:

Small town.

Small amount (purchase price is 97k)

They don't deal with those kind of properties (Half the house is a mobile home on land, built in '72. The other half is a typical stick frame house built in addition.)

Too short of a timeframe. (closing this week)

Comps put mobile homes at 160k and regular homes at 200k. Aiming for 10k in renovations.

1700 sq ft 3 beds 2 baths

Anybody want to lend on that?

Loading replies...