I am located in expensive southern California. I understand that most Hard Money Lenders won’t loan for more than 70% ARV (sometimes 65%). So far, I’ve not been able to find any deals for 70% of ARV. However, I have found a cosmetic fixer for about 85% ARV.
My next step is to call investor’s classified ads to see if this is something that can be done. I’m a little afraid to put it under contract, if I can’t find a buyer.
Does anyone know of any California cash buyers that will purchase an assignable contract at 85% ARV? Just thought I’d ask.
Thanks for your input.