Hi, Investors
I have a deal in memphis tennesse that I have a hard money lender that is listed on this site that I have been approved for a loan up to 65% of the purchase price. I am looking for a investor to help me with the 35% I need to show to close, I have rental comps and comps on properties that have sold that are similar. :help
If this is rehab you shouldnt have to be showing any money.
credit score
employment hist
liquid assets
purchase $
rehab $
after repaired value
all these can help us direct you better
The loan is for a comercial multi- unit complex. The lender is loaning me 65% of the purchase price not the apv. The property purchase price is 2.4 million
The rehab cost is 750k
After repaired value is 5 million.
My scores are not good I am in the process now of repairing my credit. :help
So you actually need the other 35% then.
You messages sounds as if you only need someone to “show” the 35% so you can be approved.
Whose coming up with the rehab $?
Yes, I need the 35% sorry about the confusion!
The lender will provide me with the money to rehab at 100% financing. The lender is only going to loan me 65% of the purchase price. The purchase price is 2.4 million so I will only get 1,560,000 so I need 840k to close. :help