Hard Money Loans for cheap rehabs

[flinvestor37]

Does anyone know of a hml who covers loans in Florida.There're plenty of rehabs.for sale but. most of them are in the 20k price range needing approx. 6-8k in repairs.The arv is around 48-55k on most.But ican't seem to find a hml willing to go less than 40k on a loan. I'm new to investing and any advice would be greatly appreciated.

[tedjr]

Howdy Flinvestor37:

Florida is full of fat cats who moved there to retire and took their money with them plus movie stars and sports figures etc. My sister sells million dollar homes to some wealthy folks there too. I am surprised that you are finding $20,000 deals.

Do not give up. Place an ad in the local paper offering 12 to 15%. I got $60,000 this way once. Ask everyone you meet and you will get what you seek if your are passionate about your goal.

[flinvestor37]

Hello Ted
Thanks for the advice will run ad tommorrow!!

[flinvestor37]

Thanks Sandraisme I'll definitely check them out!!

[jrklein55]

Ted, How would you write an ad for a private investor? Any suggestions, I think I might have to go this route.


Thank you


Jack

[email protected],net

[FletcherLockman]

Thanks Sandraisme, I will definitely check it out!