Greetings! New member from Tampa, FL

7 Replies

Hello! Just joined Bigger Pockets. I'm just blown away at the amount of valuable information and experienced members on here.

I'm hoping to find some connections in the Tampa Bay area. I've made one successful fix-and-flip deal a couple years ago and I'm ready to get back into it. My last deal I used conventional financing through a bank but this time I want to try using hard money. Any recommendations on hard money lenders in the local area that doesn't mind working with new investors? Also, are there still loan programs out there that would finance with less than 20% down? I got y eye on a nice property at a good price but don't quite got the 20% down payment (I have about 17%) I'm afraid that by the time I get there, that property will be long gone.

Looking forward to meeting some new connections in Tampa Bay!

Hi @Richard Gray ,

Welcome to the community. I recommend putting some keyword searches for things you want to learn about, so BP can notify you on any topics you want to learn more about, or contribute to. 

I recommend chatting with a regular lender in the area and see if they have any 203k programs that can work for you, I know there are at least 3 types, that are used in different ways. I'll shoot you a PM with some contact info. 

The hard money lenders I know want at least 30% of the purchase price and expected renovation. 

Best of luck!

There are a few 10% down HMLs out there, even for 1st-time flippers.  Feel free to PM me if you want some references.

Keep in mind that even though they advertise 10% down, they'll usually want to see enough liquidity that's more equivalent to 20%.  This shows that you have enough to cover the initial rehab (since they will reimburse for completed work), points, 3-6 (or more) months of interest, etc.

Hey Richard! Welcome to BP!

Please feel free to contact me ( or really any of us ) in terms of creative financing, investing, etc. I am a real estate agent but I have experience with investing.