I need a private investor who can fund up to 150K for purchase and rehab. The rehab would take no more than 6-8 weeks and I will deliver a 15% return on his/her investment. I am looking to rehab in NYS. My family has a background in construction and electrical and I have been researching flipping for almost one year, so we have a good foundation. Can anyone help?
Have you looked into any hard money lender’s? You may try this link.
It will give you a list of HML’s.
How long does it take to get the actual cash? I have heard that it takes months and I would need to use my own cash up front. Also, :- can I get the loan with a 550 credit score? :-\
I have funded within 30 days, Your credit score is fine, we look past that to the actual project that you are looking to do.
if it is what you say it will be , after all is said and done we will know for sure, We fund based off of that
A hard money lender should be able to get you 65-70% of the after repaired value.
It will cost 5-6pts + other misc. loan fees
rates is from 12-18% (int. only)
Some HML will even roll in the payments
Credit score is not a big factor, just Fed tax liens.
Income and assets not very important either.