Need funding, great deal in Clermont, Fl

[Dan Thompson]

Hello everyone,

I have been searching for the right home to flip and I found a great deal that I believe I can get for $150,000 in the growing Clermont Fl area.   I have been looking for the right property for 5 weeks and I know this one is great.  The property is 2000 sq ft, cbc, on 1.5 acres on the water.  There are very few foreclosures in that area, and the location is desirable.  I went there with my contractor yesterday and we figured that it would cost about $45,000 to bring it to its full potential and the work could be completed in 30 days.  Comps in the area are anywhere from $259000-$279,000.

Are there any lenders that would be interested in financing this deal for me?  What are my options?  I am going through a divorce and money has been tight, however this property is too good for me not to at least try.  The collateral would be in the property as the numbers are definitely there. This would be my first flip, however my contractor is experienced and I would definitely be putting in sweat equity.  I can raise about $30,000 if needed, but due to the divorce and having a child I need to keep an eye on my cash flow.

Any and all advice is appreciated, as I would hate for this one to get away.  Thanks in advance!