Any Experience with Hard Money Lenders With Lower Then Usual Minimums?

[Luke Tetreault]

I have built my business to this point using private money. As we have grown I see value in building relationships with lenders, consolidating my business from a lot of different private guys to a couple lenders would make things much easier and most likely cheaper for me. However, I Invest in very small markets, where ARVS and purchase prices are cheap. The majority of lenders I have spoken with are 75,000 minimums. Which work for the majority of my multi family deals but not my cheaper house flips. Does anyone have an experience with lenders that allow lower minimums. The majority of my flips I am all in around 60-80k between purchase and rehab. I am in NY as well. Thanks!

[Arman Ahmed]

@Luke Tetreault

Hey Luke, if you’re open to looking outside NY, the Midwest has a lot of smaller, lower-cost flips where lenders are often more flexible with lower minimums. I work with several investors there and can connect you with a few lenders who understand deals in that price range and can move quickly. It’s worth exploring if you want to scale smaller flips without being constrained by high minimums.