I need help with this scenario for short term financing.
I have 4 SFR in Northeast Ohio That are rented and Section 8 approved, currently bringing in over $2100 per month in rents. They need no rehab and are being sold by an owner that inherited them and wants to move South. Right now I have a purchase price of $125,000 for ALL 4. Zillow, BPO and appraiser estimates show conservatively these properties are worth over $225,000. Thus the loan to value is 52%.
Seller and I are looking to close quickly on these. I need a one year term, points and interest negotiable. My credit score is around 660. Where can i find someone who can do this to insure a quick close? Please advise ASAP. Thanks.