Updated about 7 years ago on . Most recent reply
Deal Rescue in St. Louis MO?
Hello my name is Art. I have a deal that is about to implode and looking for any Hard Money Investor that can close super quickly and meet terms. I am looking for 75% ARV and 3 points capitalized. My deal is the following: I have a 2334sqft home in Tower Grove Neighborhood, purchase price of $70k, with $180,250 bid for rehab on it. I need $250k loan. The appraisal came in at $319,000 so this is a 78% ARV loan request where will pay down the 3%. This is an auction purchase that I already have my earnest money into and also this is my very first deal. My hard money lender left out the fact that I needed a 70% ARV and is requesting $28k that I do not have. Property is already in closing at Integrity Title.