Hard Money Lenders. I need help please!!!!
Hello Fellow Investors,
I am a newbee investor. Fortunately I found a Real Estate Agent that is willing to work with investors. We found this potential property but we have to act on it fast because it is located in a very good area. The potential ROI is %18.
My question is regarding Hard Money Lenders. Every hard money lender I talked to can only fund up to 80% of the purchase price and does not include cost for rehab construction. They require that I have proof for the additional 20% but I only have 1/4 of the money available required. My private investors can only lend me so much which also does not cover the required 20% and the additional cost for rehab construction.
Are there any companies that can do bridge loans and rehab loans? What can I do to resolve this issue? Thank you so much.