Hi there BiggerPockets community! Any suggestions to finance and insure a triplex in Palm Beach County, Florida that is in disrepair? The ceiling is falling down from an upstairs bathroom leak and won't qualify for conventional financing. Thanks!
@Janet Cordero seller financing, private money or hard money.
Thank you @Ken Naim . Let me know if you have any private/hard money contacts you can refer.
@Janet Cordero yes I'll pm you
@Janet Cordero there are many private lenders who are in the business of this exact type of loan. Are you under contract to purchase this now or did you already close on it in cash and thus you are looking for a refinance/take-out?
Hey @Janet Cordero I have a few private money lenders that can help you get into this deal. Some private lenders will even finance the renovations. I would be happy to help.
@Patrick Prunty This one is for a client on mine and we are in negotiations now. He is pre-approved for conventional financing and this property doesn't qualify for it so reached out to see where we can get it financed. I'm looking for the requirements on this type of loan. May or may not use repair money in the loan depending on guidelines.
Thanks so much!
@Janet Cordero Is this for owner occupied or investor?
@Stephanie P. This is an investor that owns 3 properties in Arizona.