This is a great deal but Im having a hard time finding lenders

[Christian Walker]

So I am trying to buy this deal. The verbal contract is at 45k and needs about 10k in repair. The house has a back apartment. I will end up getting 2k per month from the deal but I am having a hard time finding lenders for it now for it being so low. It is appraised now at 60k and im not sure I can get the appraisal up much higher, maybe 70k. But as a business deal it should be worth at least 100k but the appraisers won't go off of cashflow. Does anyone know a company or a private lender that would be interested?

[Henry Clark]

@Christian Walker

Mr Walker, your last three posts have been this exact same topic and scenario.  "NOT" criticizing.  To help, can you clarify, is your objective to find an investor from this forum and you are making a New post to generate fresh responses?

If your objective is to find an investor, I would recommend doing a Post looking for meetups in the Lake Charles, Beaumont, or Houston markets.  They will be closer to you and you/they can get personal face to face interaction.  Recognize you will have to give up some of the juice, possibly 50%.  Make sure both of you are on the same page, fix/flip or long-term passive income.

Your background says your still in College which is great. It will be hard to get financing from a traditional financial institution which I am sure you are aware of, unless you already have some wealth accumulation. If you already have the wealth, then collateralize it. Get the property up and running for a year, then you can show the income stream as some have noted above to get the valuation up. Realize this isn't fitting the BRRR or no money down concepts, but you will need to develop a track record with the property or collateralize your existing assets or show a personal revenue stream.

Another option is to reach out to your Financial, Bank and Legal contacts.  Explain the deal and ask them to initiate a meeting with some of their clientele.  This will leave them exposed to your success/failure with their existing client, so it has to be a winner on paper and in real life.  In other words if you have to drop out of school for a semester to get this project up to revenue generation, you will need to, to save their integrity.