Hello,
Looking for hard money lenders in Texas.
I want to borrow up to 60% of after repair value on multiple properties. I will be paying for all repairs and anything on the purchase price above the 60% (ARV).
Example:
After reapir value: 100K
Purchase price: 70K
Repairs: 5K
Total acquisition cost: 75K
Loan Amount: 60K
60K is the loan amount I need from the private lender, the other 15K will be coming out of my pocket.
I'm willing to pay 12% interest only, 5yr balloon, 30yr amortization, no pre-pay penalty.
I have 4 properties (3 rentals), one of them is completely paid off.
My credit score is 700+.
Any suggestions?
Thanx.
Carlos
modified due to rules violation