I've won a buy and rehab property in my local market from auction.com, and I want to use a Hard money loan for this quick fix and flip to sell it for profit, but many of the lenders I talk to only lend money to LLC. Currently, I don't have an LLC in my state, and it will take at least two weeks to get it filed, and the seller isn't willing to wait for me to get the LLC filed. Does anyone know if there are any lenders available to lend the loan under a personal name? Or is there any another suggestion I can go with?
You may close a hard money loan in a personal name. How long do you have to close on it?
Hi Erik,
I'm looking to close in 30 days. Does your company provide financing for Fix and Flip loan? If so, does it need to require a business entity to get a rehab loan, or it can close in a personal name? Thanks.