I live in Maryland, I have owned a remodeling company for the past 7 years. I also have experience as a real estate agent, property manager, loan officer. I have rehabbed homes for the Maryland Housing Fund and Fannie Mae. Last October I rehabbed my own flip for the first time and have just finished the second. I would like to do more than one every three months.
I am looking for financing I can put down as much as 30-35% of current value I can also cover all repair expenses. My credit scores should all be mid 700’s. The loans mostly would be 2-4 month turn around and I could do say 3 at a time one following the other. Can anyone here let me know what options I have and what kind of rates and fees are involved?
Thank you in advance for your time
Sincerely
Paul
Paul,
Before rates and costs can be thrown out there are several items that would need to be addressed. Expected arv?
Purchase prices?
Full doc vs. stated?
To name a few.
Conventional lenders have rehab programs but will have some limitations. Hard money may work depending on the loan sizes.
Local banks are options as well.
Have you tried running a search on here?
loan size mostly 150-300K
this would also be a stated loan
thanks
Paul
I’d suggest contacting a mortgage consultant to go over your options. There’s a lot of variables here that could be better addressed without going back and forth.
within the triangle of Washington, Annapoli and Baltimore. Gambrills Anne Arundel County
I’m in Montgomery county MD. I generally just stick to Montgomery, because I’m familliar with it. I’d like to network if your willing.
Most of my capitol is tied in other ventures ( 1-3 months ) I do have strong contracting skills, some available capitol and time.
If your interested in networking, contact me.
Good luck!
Brandon