Private Money / Hard Money Lender

[Michael Shepherd]

Hello my name is Michael Shepherd and I am an investor in the Detroit area. I have currently flipped 3 properties and I am looking for financing for my next fix/flip project. I would love to build a long term relationship to build both our wealth. I plan on going under contract with a property today that I am looking for funding for. Looking for full purchase and rehab funding or just rehab. Would love to also speak about any other lending options you might.

Purchase Price :35k

Renovation: ~45k (Final Scope Today)

ARV / Sale Price: 125k - 165k

I can also Refinance to exit as well. I have a full time W2 Job and I never borrow what I can't pay off with my W2 job. I plan on completing multiple projects before the end of this year. I have proof of funds. 

Thanks

[Sasha Mohammed]

HI @Michael Shepherd! Congrats on the new contract/ project! 

It's likely the size of this one is going to be too small for any institutional investor on the acquisition/ rehab, but you'd likely have a ton of luck in the private money space! 

Just to keep the conversation going - do you intend to refinance or sell on completion of renovations? sounds like both are an option, but curious what your preferred investment strategy is.

If refi, you should hit the $75k minimum most lenders are looking for.