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Updated almost 8 years ago on . Most recent reply
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Lending question in Detroit / Metro Detroit
Hey everyone!
I've been lurking BiggerPockets for a while now and delved into the real estate game at the beginning of this year.
I currently own two properties in Detroit. One is was rehabbed and rented out. The second is currently in the process of rehabbing (will be rented out). These projects are fairly small. I was able to buy both houses for less than 10k each and put about 5k into each rehab (it pays to know local contractors).
Neither one of these properties has a mortgage, I was able to fund it all through cash.
Moving forward, I want to find financing to fund future projects. I've discovered that finding financing for smaller projects like these is close to impossible through banks.
Does anyone have hard money lenders, small banks, or private investors they know that invest these types of projects? Additional advice is also greatly appreciated!
Thanks,
Jibran