Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Rehabbing & House Flipping
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated about 4 years ago,

Account Closed
2
Votes |
18
Posts

Using a private lender for a down payment

Account Closed
Posted

Hello everyone! I've found a deal in my area where the home is being sold for $85K, but as it sits it is worth $126K so even before repairs it's got $41K in equity in it. It could use about $40K in repairs. So that would bring the total hard money loan to $125K and the ARV of the home to be $161K. From my research homes in the area, once rehabbed can sell for $180K-$200K I'd feel comfortable listing this home at $180K so before taxes that means a $55K profit..I'm young and eager to get started so I'm wondering would it be possible to find a private lender to cover the down payment on the loan, pay them back + cut them in on the final profits?

Loading replies...