Financial Planner · Las Vegas, NV · Member since 2015 · 66 posts · 19 votes
As the title states, looking to start a great working relationship with a private money lender that does deals in Las Vegas. The first project I have is quite small and is out of the realm of a few HML's. 80k purchase, 30k rehab, ARV 140k. Other deals can/should be larger 100-200k range.
If anyone knows of anyone in this space please reach out to me or guide me in the right direction to find a great HML. Thanks everyone!
Rental Property Investor · Rockwall, TX · Member since 2015 · 891 posts · 701 votes
10y
@Charlie Fitzgerald should be able to either help you or point you in the right direction. The numbers on the deal look very thin and may be a higher LTV than a hard money lender is willing to go.
Lender · Las Vegas, NV · Member since 2015 · 2k+ posts · 1k+ votes
10y
thanks for the mention @Christopher Brainard Ryan and I have spoken. Ryan, I'll get to you Tuesday when I'm back from Dallas. I have an answer for you.
Investor · Las Vegas, NV · Member since 2015 · 173 posts · 46 votes
10y
I agree with @Christopher Brainard on the deal looking slim. If Ryan needs to pay 6% selling commission (3% if he's a realtor), and let's assume the rehab gets overshot as it always does, it gets into risky territory. An extra $10k on the ARV would make a big difference.