Need a HML immediately!!!

Financing, Hard Money Lenders, Private Money
1

Hello,

I have stumbled across a deal and I am in a hurry to find a hard money lender. My credit is in the 520 range which I know is bad but I hope is workable. I have steady employment and make a good income. Here are the stats on the house:

2/1 BLOCK WITH AN EXTRA ROOM THAT COULD BE CONVERTED TO A BEDROOM, HAS A NEW ROOF, CENTRAL AIR, TENANTS THAT ARE MONTH TO MONTH. THE COMP IS RIGHT NEXT DOOR AND AND SOLD FOR 133K ASKING PRICE IS 70K…

I plan on offering 60-65000 and I’m seeking a loan at 60-65% LTV. If anyone can point me in the right direction I would appreciate it or just send me a message.

Thanks in advance,
Lex

2

I forgot to mention the property is located in Lakeland, FL.

3

One thing to keep in mind is that most hard money lenders will not advance out any of the money for the rehab. So you will need some working capital or a flexible contractor to get started. Once the work is inpsected reimbursement can be made.

If that’s something you think is possible then you’ll be ok with almost any hard money lender. Not many will work with a 520 but there are a few out there if you contact the right people.