Just closed another one at 90% of Purchase Price + 100% of Rehab

[Steve S.]

About 5 months ago I posted how my clients and fellow BPers @Elaine Kowalski & @Elaine Bonini bought a property that we closed on at 90% of the purchase price + 100% of the rehab. They bought the property for $142k, sunk about $55k into it, and then because they did such an amazing job on the rehab process and marketing they surpassed their projected ARV and sold it north of $300k.

I am extremely proud of their hard work and tenacity. It is not easy to find properties in this market place and they have been working hard everyday, on top of their other day jobs, to learn and master the art of fix and flipping properties.

The great thing is that they are not just "one hit wonders". We just closed last week on another one for them in the Bay Area as well. Same financing options were available to them again at 90% of the purchase price + 100% of the rehab budget. I am sure they will have similar success as the continue their real estate investing business and it couldn't happen to nicer people. 

Congratulations again Elaine and Elaine. It is always a pleasure working with you both.

[Michael Gregory]

How do you get 90% of purchase price? Everyone I've talked to, including hard money lenders want 25% down on investment properties.