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Updated over 8 years ago on . Most recent reply

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14
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Oscar Macal
  • Rental Property Investor
  • Pinehurst, TX
14
Votes |
50
Posts

Houston, TX lender recommendations for Fix & Flip?

Oscar Macal
  • Rental Property Investor
  • Pinehurst, TX
Posted

Hi everyone,

It's been awhile. Everything has been going well with my first Fix & Flip turned Fix & Rent, but now I am looking for my next flip. I'm meeting a wholesaler tomorrow who has a property near me that I am very interested in and wanted to ask for recommendations for hard money or private lenders.
Is there any company or individual(s) that you guys have used that you would recommend? I'd appreciate any feedback.

Thanks.
Oscar

Most Popular Reply

User Stats

33
Posts
20
Votes
Jessica McKinney
  • Real Estate Agent
  • Houston, TX
20
Votes |
33
Posts
Jessica McKinney
  • Real Estate Agent
  • Houston, TX
Replied

If you don't find the hard money you're looking for and have to go the conventional route, you could look  into the Fannie May Homestyle renovation loan. Similar to the 203k in that it's purchase and renovation all in one, BUT it's not restricted to owner occupants!!!! can be used for second and investment properties. Just a thought!

BP article covering the topic:

https://www.biggerpockets.com/renewsblog/2015/11/27/ultimate-guide-fnma-homestyle-renovation-mortgage/

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