Updated about 12 years ago on . Most recent reply
Any suggestions for funding?
Hello all!
We are looking to fund a rehab on a SFR we own. We paid cash for it, so there is no lien holder at this time. We purchased it for 7800.00, ARV is 84k. We need 45k to complete rehab looking for a term of at least 9 months. Title is held by our Property Management business LLC. Personal credit score is not the best so conventional financing will not work. Any suggestions would be appreciated.
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#3 Real Estate Deal Analysis & Advice Contributor
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- Mercer Island, WA
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#3 Real Estate Deal Analysis & Advice Contributor
- Rental Property Investor
- Mercer Island, WA
@Marshall Ryan if you're looking for a specific lender you will need to post in the Marketplace.
Hard money is your best bet. Its expensive, but the LTV is low so you should be able to get such a loan. Most are local, so go to REIA meetings in your area and talk to other investors to track some down in your area.
Private money would be cheaper, if you know someone who has that kind of money.
Credit cards might be an option. Personal loan. Selling something.