I have a need for a loan for purchase and rehab costs associated with a very low purchase price duplex
Purchase Price about $7000
Rehab Cost about $10000
ARV = 45-60k
Need to try to find a lender or lenders who will look at such a small amount financed.
Any help would be great
Thanks
Eric
You are not likely to find someone to simple loan you $17k at 8% interest.
Try offering to partner with another investor! Offer a quarter or third of the deal for a cash partner.
It gives you a chance to establish a track record and a chance to gain capital.
It makes the returns for an investment partner reasonable for the project.