Updated over 6 years ago on . Most recent reply
Private Lender Needed! - Indianapolis area
Hello BP!
I'm a fairly new investor, currently in the search of my third deal. I have identified a property that will be sold at Sheriff's auction on 4/29/19. The property is located in Mooresville, IN. Great location in town, walking distance to shops and the High School. The mortgage judgement on this property is $64,6148.84. I had an agent run comps and we believe the value to be in the $120k - $140k range. With some rehab, we think this property could have an ARV of $160k+.
I'm afraid to go the Hard money lender route due to the timing of auction transactions, but would be willing to structure a loan in the same manner (down pmt, points, interest, etc) or give up equity. Sales are at 2pm and you have to present cashiers check by 4pm so it makes it tough without having the full amount in cash.
Would be willing to share full details with interested individuals.
Ideas are welcome as well! Please reach out to me if interested!