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I am looking for a hard moneylender or private money for a property that I'm looking to rehab and flip. I do have some of my own money set aside just incase I run into overages in repairs or closing /holding costs.
ARV of House:......................................$130,000.00
30% - Closing & Holding costs/Profit **....$ 39,000.00
70% of ARV - Loan amount.....................$ 91,000.00
Cost of Improvements.............................$ 26,000.00
Asking Price..........................................$ 65,000.00
** 30% Breakdown
10% for Closing and Holding costs...........$13,000.00
20% Potential profit.................................$26,000.00
Bedrooms: ...3
Bath(s):.......1.5
Lot size:.......0.16 acre
Sq Ft………1,393
Year built:.....1910
Repair time:..6-8 weeks
Similar 3 bed/1.5 bath homes in the same are have sold for as high as $156K. I am being conservative with the ARV of $130,000. The asking price is $65,000 but I will be offering much less
Questions and comments welcome
A connection with a hard moneylender or private lender would be better
