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Updated almost 9 years ago on . Most recent reply

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8
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Jodi Smith
  • Investor
  • Fort Myers, FL
0
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8
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Need help with 100% financing for a rehab

Jodi Smith
  • Investor
  • Fort Myers, FL
Posted

Folks do any of you know of a good hard money lender in IL That can do a quick close with 100% purchase price funding and rehab? I have the funds to cover the rehab until the draws to cover the projects. Thank you

Most Popular Reply

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30
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20
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Tom Pritchett
  • Investor
  • North Bend, WA
20
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30
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Tom Pritchett
  • Investor
  • North Bend, WA
Replied

here are some initial thoughts. You are asking for 100% funding for purchase and rehab. What is your "skin in the game"?  What are you bringing to the table?  What is your experience?  What is does the deal look like?  Will you be able to manage a deal in IL when you are in Florida?  

These are questions that any lender will look into because they don't want to lose their investment. How secure is their money?  Any kind of deal needs to be looked like a partnership so both sides are successful. If it is not a win-win, it is destined to fail. 

Tell us more about the deal and someone may be interested. 

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