PVT Money/ HML in Southern Ohio

[Lauryn Meadows]

Hey all! I have a duplex under contract in Southern OH for $10,000, rehab will be around $60,000 or less. ARV $90,000. Does anyone know of a HML that will fund such a small loan for the rehab period? I have a local bank that will do the refi. I can use my HELOC to complete the deal, but I don't want to tie up most of my LOC.

Thanks!

[Brandon Sturgill]

@Lauryn Meadows I don't think your numbers are going to work...you'll get 70%LTV on the back end...$63k if you are accurate on your ARV...and that seems ambitious....you'll be $73k in plus soft costs...

This is a big project...just because a deal is cheap doesn't mean its a good deal...