If and when you have any financing questions feel free to connect.

Hi BP Community,Does anyone know how a large scale condo conversion project finds financing for the end buyer?

Get your finances in order.

This is a Conventional Loan, and it's where the lender will finance the land and construction all in one, however you are avoiding HML/PML's.

I still have a lot to learn when it comes to the financing part.

Wholesalers always like experienced investor but people just starting also need deals and they simply just don’t know to go to wholesalers if you can build their trust of wholesalers it can go a long way, then introduce them to hard money as a way to finance the rest of the deal- they don’t need income verification with hard money good luck :)

By the way, if he purchased it in Sept and he's just now seeking additional financing, you should question this a little.

I'd first look at local credit unions and then expand outwards from there and know you can sometimes get financing outside of the state.Another option is to work with a private money lender.

First, the investor would want to determine what they call the type of deed that is applicable to this purchase in West Virginia.

Which means I will still need to finance about $400k for each property at about 9% rate (the rate is high because we'll using a commercial loan as we'll be purchasing the properties under an LLC).