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Michael S.
  • Real Estate Investor
  • Paramus, NJ
4
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64
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Looking for hard money lender in NJ

Michael S.
  • Real Estate Investor
  • Paramus, NJ
Posted Jul 28 2009, 11:41

I just found a potential find that is Bank owned and they will only enertain cash offfers. While I would more than qualify for a conventional rehab loan for this property, I do not currently have the cash to lay out for a direct purchase. Asking is 130k. and need approximately 55k to finish properly. Finished value should be around 250k to 280k. Previous owner gutted and could not finish renovation. Needs all interior finishes and windows. My last 4 properties have been gut rehabs, 3 of which I flipped. The work required is par for the course. I am hoping to refi into conventional loan after rehab is done and use as owner occupied. Has anyone on the boards worked with such a lender in NJ?

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