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Updated 3 days ago on . Most recent reply
Hard Money Loan to close in 5 day
Hi,
Can a private lender / hard money lender help me close a deal by Friday ( 5 days from now ) in East Orange, NJ?
It is a redemption house with an assignment contract for 190k.
- The Rehab estimate is around 50- 60k.
- 3bd, 1.5 bath
- plan to fix and hold
- delivered vacant
- The current estimate, according to Zillow, is 327,300
- My rehab includes a 4th bedroom, which will increase the value by at least 30k.
- 2bd are currently getting sold there at 300k.
Exit strategy: Rehab, Refinance, and Hold for rental or personal use.
Caveat: It is a redemption and needs to be closed by Friday this week. The lender I have can not do that.
I'm still deep in the process of analyzing the deal and can share my calculation details with potential lenders. But knowing how much the loan will cost me is crucial to making a final decision.
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if you want to get this done you better order title report Monday if you have not already.
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