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Updated over 4 years ago on . Most recent reply

User Stats

4
Posts
1
Votes
Mark Rogers
  • Real Estate Agent
  • Frankfort, KY
1
Votes |
4
Posts

Hard money vs. a construction loan for a flip

Mark Rogers
  • Real Estate Agent
  • Frankfort, KY
Posted

My goal is to have an investor back the transaction.  I want to split the profit with my investor.  This would be in Frankfort KY.  I anticipate the house costing less than 100K, repair costs to be approx 20K-30K and then sell the renovated house at market value.  Timeline would be about 4 months - 60 days for renovation and 30 to 60 days to place the house on the market and close.  Question, what is the best loan and terms, etc for this specific purpose?

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