Purchase and rehab funding needed - Chicago, IL.

Financing, Hard Money Lenders, Private Money
1

I am looking for funding for an 8 unit that needs rehab. It has been completely gutted. The purchase price is $130,000; it will need
$160,000 worth of work. Looking for $260,000 loan amount. ARV $500,000.

2

Where have you tried?

3

this a tough one…From a hard money stand point I would say impossible…try to find a liquid partner…

4

Rookie is right, that is a tough one. I agree it will be difficult to get hard money for that one.
I’d also have to question how to do a gut rehab for 20K per unit. That seems very cheap.

Looks like a nice profit if you can pull it off though.

5

Try CIC Chicago they may be able to help.