Where to find lenders for rehab?

Question

Hi! I found a good deal and it needs rehab. I’m looking for lenders/banks who can do rehab and cash out refinance. How can I find one?

Robin Simon · Answer

Have you checked out the featured lenders right here on BiggerPockets?

New Find-A-Lender Program:

https://www.biggerpockets.com/...

Featured Lenders Page:

https://www.biggerpockets.com/...

Zach Edelman · Answer

Another vote for BP find a lender page^.

Zach Austin · Answer

@Sandy Sandy

Hello Sandy, I Live close by and would love to help out in any way I can. Let's hop on a call sometime.

-Zach

Jonathan Taylor · Answer

@Sandy Sandy I support the find a lender portion of BP, you can search reviews, lender's reviews and research the company. Type in your scenario and see what comes up. Let us know your questions but always vet the company.

Ethan Gidcumb · Answer

Hey Sandy! A lot of HML's will cover the rehab portion of a deal. Networking within your own circle/community has been a way that I have heard about a lot of lenders myself. Also, many lenders provide their services in multiple states; so, if you can't find somebody directly next to you, you can always widen your search.

Scott E. · Answer

Google "hard money lender near me" and that should get you through the rehab.

Then when you're done, if you are holding this as a rental, google "DSCR lender near me"

Bonnie Griffin Kaake · Answer

@Sandy Sandy Is it possible to rent it now without rehab? Is there a hold over tenant in it now? Could you do minor fix up, and then list it for rent until after the first of the year to do the major stuff? This could be a big tax benefit for you and give you some cash-flow up-front with a cost segregation study. Let me know if you need more information. Estimates are always free of charge.

Valerie Hardiman · Answer

If you don't already have a local Credit Union join one. Make a list of all the Credit Unions and local banks and start trying to build relationships with them. I do agree that private $ may be your path at this point.

Romney Salanoa · Answer

Hi Sandy,

I would go to your local REIA, I usually find several good private lenders there and you can more easily negotiate good rates and how the lender works with people. You can usually simply look up some too but I would be careful about those, and then you can also find some on here through the search tab or looking through peoples bios.

Hope this helps

Romney

Where to find lenders for rehab?

Where to find lenders for rehab?

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