All Forum Posts by: Ben Layson

we purchased a 1:1 single family with easy value add to 2:1 for 28.5k. ARV is around 60k, and FMR is 750 roughly. Its practically turnkey only needing 2 or 3k in work for patches here and there.

I'm attempting to find lending for my first real estate deal on a single family rental investment property. Trying to secure lending for an off-market property and learning the struggles of finding hard money loans that go below 50K. That being said I've looked into P2P lending as an option. Any tips for other creative lending sources such as private would be greatly appreciated. The property is located in the Midwest and me and my business partner have ran the comps, numbers and called numerous property managers, handymen, inspectors and even asked locals on reddit to get a better understanding of the rental calculations and local biases in the area. 

@Nathan Harden yes lending has been the biggest hurdle, we also originally were aiming for 75k value to invest in however this deal came across us newly listed and we were the first to see it. That being said we have the cash to pay for it outright but have been trying to learn the lending game for off market deals and to also maximize our cash on cash return. 

The Seattle market is something we would like to tackle with house hacking but we both have living experience in the Midwest market where we are buying and it's a lower barrier to entry. We've reached out to propery managers, inspectors, and even locals on reddit to get their second opinions of the invisible barriers to the neighborhoods around it. 

I'm a young investor located in seattle, who has done their due diligence studying real estate and it's strategies. I've grown accustomed to investing in index funds and maxing out my roth IRA each year and trying to jump into my first rental property. I'm investing with a partner in the Midwest and we are on the step of finding private lending for an off market deal. If you know any lenders that go low as 30k or creative financing for the deal I'd love to hear it!