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Updated over 4 years ago on . Most recent reply

User Stats

30
Posts
34
Votes
Jordan Smith
  • Rental Property Investor
  • Columbus, OH
34
Votes |
30
Posts

Private Lender in Columbus OH for $115k construction loan

Jordan Smith
  • Rental Property Investor
  • Columbus, OH
Posted

I'm looking for a private lender to fund the rehab on a duplex in Columbus OH. 1 unit is currently rented at $800, lease ends 2/1, and will need a light to moderate renovations. The other unit is currently vacant and has been gutted to the studs. It will be a rental not a flip. I paid $129k and it is worth $200k. ARV is $330k. Rehab should take 6 months but I am planning for 9 months to give plenty of time for refi Would be flexible to extend to 12 with added points worst case.

Looking to build a relationship and grow with a potential lender to work on more deals in the future. Please reply with any additional questions and or needed details. 

Thanks!


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Most Popular Reply

User Stats

30
Posts
34
Votes
Jordan Smith
  • Rental Property Investor
  • Columbus, OH
34
Votes |
30
Posts
Jordan Smith
  • Rental Property Investor
  • Columbus, OH
Replied

@Mikael Winkler thanks for the advice. Did you use HML on your first flip? If so were there any experience requirements and how did you overcome those if so?

Thanks!

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