Hard Money Needed: 642 Mid-score, 600K Purchase/Rehab

Financing, Hard Money Lenders, Private Money
1

I am looking for a hard money deal to purchase a rehab SFR. Purchase price 600K. Needs about $65k in rehab. ARV is $900K (comps are higher). I want to be able to get into this with as little out of pocket as possible so I would want it to be possible to roll the payments etc into the loan. At least 3-4 months of payments anyway. I don’t want to mess with documentation etc. I am sure the seller would be willing to carry a second if the numbers are cutting close.

I don’t know if it helps but my LLC has an 80 paydex listed with D&B since 1999 and Business Experian score of 97 listed since 2001.

Exit: I want to refi and hold. Second choice: Sell.

Again, I would like this to be an equity based approval. I will PG if I have to - but I don’t want to have to jump thru hoops of providing financials etc. preferably close in name of LLC if possible.

Can anyone get this done?

Thanks! :biggrin

2

since the seller is willing to carry second this will work.

3

Most likely you will be looking at a HML at 65% which is 585K. So you will need some money in the deal.
this website has a list on HML so go thru it.