Hard Money Lender / Rehab loan

can anyone tell me if they know of a hard money lender / rehab lender who would lend on a foreclosure that would then be rehabbed and flipped. Any info would be much appreciated.

Boab

Edited: 06/26/2010 at 04:20AM

Christopher Lippincott

Real Estate Consultant · Little Town, Oklahoma

690 posts
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Dec 06 '07, 06:42 PM

Not the easiest to get signed up with but definitely a solid rehab resource

Brookview Financial (dot com)

Edited: 06/26/2010 at 04:20AM

Robin Ferrier

Real Estate Investor · Indianapolis, Indiana

21 posts
1 award
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Dec 07 '07, 02:03 AM

Oklahoma, many thanks for the tip. I'll let you know how I get on.

Boab.

Edited: 06/26/2010 at 04:20AM

Scott Miller

Real Estate Lender

642 posts
2 awards
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Dec 07 '07, 07:04 AM

Where is the property located?

As to Brookview---be prepared to meet a very stringent liquidity rule (20K in liquidity for each 100K borrowed)...

Regards,

Scott Miller

Edited: 06/26/2010 at 04:21AM

Robin Ferrier

Real Estate Investor · Indianapolis, Indiana

21 posts
1 award
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Dec 07 '07, 12:16 PM

Hi EZ, the property is located in Indianapolis. Are there any other lenders you can think of that might have slightly less strict criteria. I am pretty confident I can comply with those restrictions but it is always nice to have a second string to your bow.

Thanks.

Boab.

Edited: 06/26/2010 at 04:21AM

Scott Miller

Real Estate Lender

642 posts
2 awards
50 influence

Dec 07 '07, 07:21 PM

I'm sorry that I wasn't specific---I realize the property is in IN, what county is it in?

I offer several programs in IN, but I would need to know more about you and the property to steer you in the right direction.

Are you a foreign national?

Regards,

Scott Miller

Originally posted by "Boab64"

Hi EZ, the property is located in Indianapolis. Are there any other lenders you can think of that might have slightly less strict criteria. I am pretty confident I can comply with those restrictions but it is always nice to have a second string to your bow.

Thanks.

Boab.

Edited: 06/26/2010 at 04:21AM

Robin Ferrier

Real Estate Investor · Indianapolis, Indiana

21 posts
1 award
50 influence

Dec 07 '07, 08:54 PM

Hi Scott,

The property is in Indianapolis, Marion County, Indiana.

The property would be a REO property, with a purchase price of about $16k. The rehab costs would be approx 24K. A single family property in an area that I am told is sought after both by buyers and renters. The work would be carried out by reputable local contractors and would be project managed by an experienced rehabber/realtor. The property would either be sold to the local market or to my Brit colleagues.

Yes, I am a foriegner - a non resident alien to be precise, from the UK. I already own property in other US States and have yet to remortage and release my funds. Some opportunities have arisen that I would like to take advantage of within IN and I feel a rehab/hard money loan might be the way forward.

Any info you have Scott would be most appreciated and if you need any more info from me then please pm or email me. Many thanks.

Boab :help: :help:

Edited: 06/26/2010 at 04:21AM

Joy R.

Real Estate Investor · Hallandale Beach, Florida

17 posts
1 award
50 influence

Nov 09 '09, 01:27 AM

Originally posted by Robin Ferrier

Hi Scott,

The property is in Indianapolis, Marion County, Indiana.

The property would be a REO property, with a purchase price of about $16k. The rehab costs would be approx 24K. A single family property in an area that I am told is sought after both by buyers and renters. The work would be carried out by reputable local contractors and would be project managed by an experienced rehabber/realtor. The property would either be sold to the local market or to my Brit colleagues.

Yes, I am a foriegner - a non resident alien to be precise, from the UK. I already own property in other US States and have yet to remortage and release my funds. Some opportunities have arisen that I would like to take advantage of within IN and I feel a rehab/hard money loan might be the way forward.

Any info you have Scott would be most appreciated and if you need any more info from me then please pm or email me. Many thanks.

Boab :help: :help:

Robin,
Did you get an help with this issue? I am also seeking private/hard money in Indy, but finding no help. Please share. Email: [EMAIL REMOVED]. Thanks. Joy

Edited: 06/26/2010 at 10:26AM by Moderator

George Bloom

Hard Money Lender · West Palm Beach, Florida

181 posts
1 award
50 influence

Nov 09 '09, 10:37 PM

Robin:

I hope you have been able to locate a good funder for you deal. One of the challenges rehab investors face is trying to find just right hard money lender that fits their investment profile. Most of the hard money lenders in our database have stringent guidelines on location and minimum amount to finance. Trying to navigate the huge population of hard money lenders in an effort to find the perfect one for your deal can be daunting.

Edited: 06/26/2010 at 10:27AM