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Author Topic: HARD MONEY NEEDED (SMALL LOAN UNDER $50K) HELP!!  (Read 1542 times)

Offline investy

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HARD MONEY NEEDED (SMALL LOAN UNDER $50K) HELP!!
« on: November 29, 2007, 07:55:31 pm »
Does anyone know of a hard money lender who will do a rehab loan under $50k?  Most eveyone I know is over $50k or requires an min ARV of 75k.

I have two properties under contract in S. Oak Cliff. Need to roll rehab, closing, and points into loan. I need to close fast!

 Will make Good sec. 8 rentals a 4bdrm and 3bdrm. I plan to refi after rehabbing. I am already approved for that. Just having a hard time finding someone to do a small loan.

Anyone out there???? :help


Offline zebold

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Re: HARD MONEY NEEDED (SMALL LOAN UNDER $50K) HELP!!
« Reply #1 on: November 30, 2007, 11:49:14 am »
We do loans as small as 30K HARDMONEY

Only in the state of Florida

65%LTV

____________________________

That being said.... you say the ARV is 75K and you want 50K

65% of 75,000 = 48,750


"And you say you want all closing cost and points into the loan" - Really not going to happen

Points will be between 5 and 10points = up to $5,000 in points

Closing cost would be another 5K to 8K



Hope that helps you out.
I Specialize in Hard Money Loans (Florida Only)
Commercial & Residential Loans (30K - 10Million)
Private Investors
My Email: [email protected]
My Phone: 786-302-0869

Offline Investment Loans

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Re: HARD MONEY NEEDED (SMALL LOAN UNDER $50K) HELP!!
« Reply #2 on: December 01, 2007, 11:49:13 pm »
Is S Oak Cliff by Dallas?

There are a handful of lenders that can entertain going below $50k.

Several other factors need to be reviewed.  Will send an email.
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Ben Carmona * Consultant * ALL STATES * www.BenCarmona.com * 314-914-6052
1-4 Unit Investment Properties
Hard Money Rehab Loans * 24hr/1 day double close funds * Portfolio/Commercial/Business Options * No Seasoning Refis

 




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