Are there lenders that lend forbjust rehab cost?

[Victor King]

I have someone willing to do JV and our agreement I he purchase property and I fund rehab and we split profits down the middle for example 550k purchase 100-150k rehab and ARV 840-950k, so I'm looking for lenders that will just lend for rehab? And also does this sound like a solid JV of course we will put everything in writing and escrow

[Jason Shackleton]

Hey @Victor King yes this is possible with some private lenders. I believe you may need to take out a certain loan amount as they do have minimums. Much easier for you to simply get a open private mortage with no pre payment penalty. These lenders will allow you to put less down on the property and finance up to 100% of your renovation costs. When you are done the project simply refi into a traditional mortgage.