Hard money financing

[Curtis Fergus]

Hello BP,

I am looking for financing in Salt Lake City Utah. I currently have a contract on a single family split entry in taylorsville. ARV of around 230K. Contracted for 155k. Needs 10 to 15k rehab for a rental 25k for a flip. I have contacted several local lenders, 2 are not responding and 1 wants 45k for a down payment. What are some good options for Hard Money Loans Utah?

[William Hochstedler]

@Curtis Fergus

There are three or four HML's that regularly attend the Salt Lake Area REIA's (SLREIA, UVREIA, UtahREIA).

Depending on the deal, you may be able to get up to 100% of purchase if the ARV is there.

I recommend trying local lenders first.  They know the neighborhoods and can be great partners for future deals once you build a relationship with them.