Hard money Lender for 1st time investor fix & flip with bad credit

I have a deal under contract for 104k needs 20k in repairs and ARV is 155k and i have 5-10% ready to put down
I am having trouble finding a lender that will help me complete this deal because i have poor credit
can anyone help me solve this problem this is my first deal


There are certainly some issues although most hard money lenders will loan money regardless of your income or credit standing. 

In the conventional world hard money lenders will loan 75 or 80 percent of purchase price, so $78k to $83.2k with $26k to $20.8k down plus closing costs. Normally hard money lenders want 20 to 25% down as skin in the game.

There are hard money lenders offering to finance a percentage of purchase money and rehab money for a property, I believe they will loan a combination of around 80 percent of the combined cost, but still want the owner / flipper to have skin in the game.

Any way you cut it you will need at least 20 to 25% and may need your rehab and carrying cost dollars on top of that, I wish I had better news for you and in most cases a hard money lender is lending on the property and doesn’t care about your credit or income.

Now if your asking a hard money lender to essentially loan 90 or 95% of the entire project their probable going to want to know your background, professional real estate experience, income, employment, assets, credit and possible the name of your dog and cat.

Good luck,


Thank you gold river and that is the problem that have been running into… :banghead becuz i have only 10% to put down
and was able to find a lender but 20k rehab cost i would have to fund along with closing and reserves…

If there is anyone out there that has been down this road and could… PLEASE HELP!!! :help I am even willing to pay someone for a bird dog lender.

Hi! Let me know if you still need help with your deal. Thanks, Donna :biggrin