Looking for a HML in Tucson, Arizona

[Justin Ellis]

I've been looking around for my first property to flip and I found one that I think could yield a nice return when fixed up. According to the realtor, the buyer is ready to sell and will entertain a lower cash offer. Which brings me to the money. I'm looking for a hard money lender or private money lender to start a relationship with here in the local market. I talked to a local (Traditional) lender and he said he's got some HML's but they will only lend at 70% of the purchase price, no matter what you get the deal at. I'm looking for someone who will fund based on a percentage of ARV including rehab costs or maybe a partner, with cash, to go in with me 50/50.

They will not let me get the property under contract without proof of available funds, so I'm not even sure if THIS deal will play out, but to avoid this lag in the future, I want to have a lender relationship available for the right deals.