Financing deals in the 70-80k, range.

[Oscar Padilla]

Hello, I am an out of state investor from California looking at the Ohio Market, I was wondering what would be best practices to get financing for deals less than 70k, banks and lenders I have contacted have mentioned they dont finance deals that low. Also, if the ARV is near 100 would using hard/private money work and then refinancing? I am assuming it would be smart to have that discussion with a bank/lender if they were going to be able to refinance before doing so.

[Brittany Minocchi]

Traditional financing or nonQM? NonQM usually has a minimum loan amount of $100k (although I do broker to one lender that will go down to $75k) but $70-$80k with traditional financing wouldn’t be an issue at all. Happy to connect if you’d like to discuss further.