You're likely best off wholesaling the property and using those funds to invest in the deal or invest in something else.

How are you planning to fund the rehab costs?

Really simple process to get a term sheet and no upfront fees except appraisal cost that is paid DIRECTLY to the appraisal company.

Or you could wire all the funds to there escrow acct, bid and pay if you win, then request the remainder of funds to be refunded. 

I would also recommend getting a few more bids from reputable foundation companies to ensure you are getting the best quote.

And for reference my sister is dealing with a run down house in Louisiana that has a value of about $95,000 and she shopped multiple policies with multiple insurance companies and the best rate she could get was $2500.

I can't say when that will be but 4.125 is quite a lot depending on the rate you get.I personally want a hassle free funding experience and the lower rate.

I would never advise my customer to take a 5 YPPP considering we are have been moving into a downward trending rate market since 2024. 3 Year Prepay Max but if you plan on doing renovations or taking cash out on the ARV then a 1-2 YPPP would be Max.I would also advise buying the rate down before you decide to take a 5 YPPP using seller credit, equity or closing funds.

We'll sell the properties if we can't find a PM company that works. 

As a hard money lender looking to fund $10MM+ in deals in 2025, our hope is to connect with similar sized hard money lenders, ideally in different geographic area, that are looking to create a small network to bounce ideas off of, learn from, and engage with regularly.Welcome to BP, as a lender happy to connect with you and network