Hard money lending

6 Replies

I'm looking for a hard or private money lender who will do a deal in South Carolina with little out of pocket at closing, with the lender funding the purchase and fix.

Hi Deadrick - I have a 65% ARV program that will fund up to 100% of purchase and rehab in SC. Email me with your scenario, glad to help.

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Thanks,

Jon

Hi Deadrick - I have a 65% ARV program that will fund up to 100% of purchase and rehab in SC. Email me with your scenario, glad to help.

John, so I'm assuming the buyer bringing nothing to the table? If this is the case let me know and we can do some business.

Verran, That is not the case, sorry. Generally you need about 15% of the transaction amount for closing costs and reserves.
Thanks,
Jon

Originally posted by Jon F.:
Verran, That is not the case, sorry. Generally you need about 15% of the transaction amount for closing costs and reserves. Thanks, Jon

I agree with Jon.

We like to see skin in the game to at least cover points,closing costs and debt service coverage. Prepare to pony up bank statements showing reserves and/or cross collateralize another asset. . .

Tevis

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