All Forum Posts by: Kimberly Hodgkins

I am part-owner of a construction company in Oregon, so we will be doing this project ourselves. Made an offer on a property that needs a full re-hab. Purchase price is $90k. ARV is approx. $310k. Seeking loan amount for approx. $200k. I have been actively searching for investors and private money for weeks. There seems to be a lack of lenders in Oregon. What I have found is up to 18% rate, that's seems so high to me and that's with providing income documents and $10k down. I am supposed to close at the end of the month and would welcome any suggestions on where to look for more private money investors.

Just a quick note on this subject. There is an exemption that Oregon has allowing you to become a broker without having to be under someone. You need to have some experience and tell them why you want the exemption. It is a form and you have to send it in before their next meeting. I am currently doing this also.