What's my best option for mortgage under $50,000
I'm closing in a few weeks on an investment property for $40,000 cash. I'll repair it and get a tenant in (should rent for $900 a month) and the ARV is $65-$70k
I want to pull the cash out as soon as I can, but having a little trouble finding lenders. Do you guys have any suggestions on where to look? And what are the best terms I'll be able to find. I'm hoping for 75% LTV (as long as loan doesn't exceed purchase price + repairs) and 5-6%??
Also, is it possible for me to get a HELOC or a commercial loan on this property?