Ohio Hard money Lenders

[Dylan Mullins]

Hello,

I am happy to be making my first post, because that means that we are on the fast track to making our first deal. However, the deal isn't as cut and dry as I would like for it to be and I am in search of a hard money lender, for a brrr. Here is the deal:

Asking Price: 18900

Maximum offer: 15000

Renovation cost: 25000

Arv: 75000

Down payment available: 5000

Personal Credit Score: 560

Most of the work on the property will be preformed by my father and myself who are licensed contractors. The current appraised value of the property is 50000 and the renovations are expected to take around 6 months. We are looking to do an interest only deal, and when we go to refinance I have a strong cosigner.

Thanks in advance,

Dylan

[Anthony Dadlani]

Dylan,

Private Money lenders and Hard Money Lenders are very similar. I think the major difference would be some do it as a regular business while others provide money occasionally to friends and family. There are many lenders on the BP forums and directory. Developing a relationship with a funding source is very important in being successful in the fix and flip strategy long term.

Best of luck in all your endeavors