PML/HML: Financing Needed in GA

[Marcus Blalock]

I am looking for either a hard money or private money loan for fix and flips.  I am looking for someone who will accept both collateral from other assets and line of credit that I currently have.

The other asset I have is a rental whose PITI is $612 a month and it rents for $900 a month. Here is a screenshot of when I analyzed the property with the BP rental calculator. It is currently in year 2 so it has about $29k in equity right now.

- Note the property taxes shown in the screenshot above will be coming down as I appealed those to the local assessor and won. They will come down about $200 a year. The $99K ARV reflects an appraisal done by a financial institution.

The other funds I have is from credit lines totaling about $15K. The deals I am looking at are in the Atlanta, GA area and total purchase price and rehab will not exceed 200K. My excepted ROI is 15-20%.

I have other income that pays the bills, but looking for someone who will work with me and loan to me based on what I have stated as collateral and assets.  My FICO is about 760.

Also, I am NOT interested in one of the programs where you have to sign up for a bunch of credit cards.  I am looking to work with actual lenders to build a history and access to a future line of credit.  If you have something, please reply below or send me an IM. Thanks