All Forum Posts by: Ralph Trinidad

 I will email you some more details either late tonight or early AM.  Thanks Noah.  

Purchase price is 107K and ARV is 195K. The same person handling the reno, sold a home for similar value last year so we're confident in the ARV.

Looking for 90% acquisition cost which will be about 50% ARV. No need for rehab financing. The guarantor on this loan has no previous experience however the person running rehab has 10-12 flips experience in the past 24 months but will not appear as a guarantor because of credit. Anyone offering this? PA property. Thanks.

Good afternoon. I am a mortgage broker in PA. I have a client who owns a residential property in FL. Typically his projects have been privately funded and smaller than this one. The private funding source STOPPED funding the project while construction was going on. The contractor seized doing the work and I believe has placed a mechanics lien on the property. The first mortgage, taxes, insurance, etc on this property have all been paid as agreed during this time. The property is just in mid-construction, not inhabitable and we've had a really hard time finding a way out. We need 1.8M to pay off the first mortgage, mechanics lien and finish the project. We have multiple appraisals in hand that show an after repair value of about 2.3M. So we need short term financing and understand there's a cost to take on the risk. Any idea who might be able to provide financing on something like this?