I'm looking at a property that I can get for about $60k that the tax assessor has valued at $96k. Will need about 13k of renovations and the ARV will be 125k. I am a Realtor and live 5 houses down from this property. It is in a country club with security, homeowners association, championp golf course, pool, restaraunt, etc, etc..
I have about a 670 credit score and can come up with some cash down. I can also waive or put down my 3% comission for the purchase of the property.Family is in the new construction business and can have quality rennovations done at a good price. I plan on having renovations done in 5 weeks.
I've called a few hard money lenders I found on the web but they all seem to have some requirement that doesn't fit my situation. Most dont service my area.
I'd like to get fair points with 14-17% interest on 6 months to 1 year and low misc fees. I'd also like to use my own appraiser or at least be able to appraise when I see fit - not once the lender already has received my app fee. Anyone know any lenders in the area that can help me
