Looking for a Private Lender for a SFH investment property in IL

[Dennis Degelmann]

Hi all,

I'm looking to purchase my 1st investment property and need some assistance with funding.

Single Family Home - NW Suburbs of Chicago

Purchase $100k

Rehab $70k

ARV $390k

Current 'As Is' value ~ $250k

I have $20k cash savings. I have the option to buy SubTo and take over existing mortgage ($89k), so would just need rehab money. All Private Lenders I've spoken with are offering Purchase + Rehab scenario, (which I'd be willing to do), but that bumps up the down payment and doesn't work for me.

Does anyone know of a private lender that would take this deal with me?

[Michael Kinsella]

Local real estate investor groups, as @Andrew Postell mentioned, are probably the best place to find reputable private lenders near you, or at least a referral to one.

Local REIA events, meetups, etc.