I’ve got 5 deals on the burner-but want to share these small ones for your input.
I found a home (across the street-of all places) that’s the neighborhood eyesore.It brings my own appraisal down!
It came up for sale for 15K on a hardship sale
It has an After repaired value of 45K++ (got appraisal)
I have an individual to do the work-virtually free (rent 6 months)
And I have a source for the materials on 0% interest.
(I’ll HELOC it after the repairs are done and let the renters pay my mortgage-and do a cash out)
It’s mostly cosmetic repairs-paint-ceilings-flooring-etc.@ 7K!
All the mechanicals have been recently replaced.
Is there a hard money lender for an amount this small???
(I got a lot of $$ tied up in other projects-otherwise I could pay cash)
The amount is waaay too small for any conventional lending paramenters
also…
Package Deal!
I got 2 homes in South Carolina that I could use hard money for.
2@ 50K Ones a duplex and the other is a SF
I already have both of them resold for 75K
I’m in the process of obtaining a mortgage for the end buyer.
Is hard money a doo-able deal for these little deals?
If so, Who???
