ISO Rehab to Rent financing
Hi BP friends. I own a property in Tuckerton, NJ with an ARV of $325k that I'm looking to rehab and rent. Several GC's have estimated about $100k in work. Being that I own it outright, and only need $125k (budgeting for unknowns), not many hard money lenders have been overly interested. I'd love to hear who you've used in similar situations, or what sort of rates and terms could be expected. I've considered the idea of shopping it out to wholesalers, or even listing it, but I went into it with the intent to rent and I'd like to see that through if the numbers make sense.
Quick info on me that could possibly help: Licensed realtor, good credit, first rehab I’ve owned but not the first flip project completed by the GC or by myself as the realtor, strong W2 income in addition to real estate.
Any thoughts or experiences you could share are so greatly appreciated!