Looking for gap funding contacts

[Rob Terpilowski]

Anyone have contacts in Indianapolis for doing gap funding? Currently have all my capital tapped out on projects, but starting work on putting together the following deal.

Package deal of vacant lot, SFH, and duplex. Plan is to do new SFH on lot, full gut and remodel on the existing SFH, and rehab the duplex, do a condo conversion and sell individual units (or possibly BRRRR).

Rough numbers at this point are:

Acquisition cost $230k Total Rehab/Construction costs: $540k Total ARV: $1,065,000
Currently talking with a few hard money lenders to get a number on how much they will be willing to fund, but will need gap funds to make up the difference. This will need to be broken up into three separate loans according to the HMLs so I don't necessarily need the same gap funding source for each property.

Tags: Indiana Indianapolis