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Jacobo B.
  • Investor
  • Miami, FL
8
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18
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NEED HML or Private Lender for a SFH FLIP in Hialeah Florida

Jacobo B.
  • Investor
  • Miami, FL
Posted Dec 5 2022, 10:57

I have under contract a SFH and I'm looking for a lender to fund my flip. I don't have a lot of cash but the deal is solid and very profitable. I have done several projects in the past. The last one was in 2015 and now I'm getting back on the horse. Any help would be greatly appreciated.

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1,457
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Caroline Gerardo
  • Lender
  • Laguna Niguel, CA
1,457
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1,813
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Caroline Gerardo
  • Lender
  • Laguna Niguel, CA
Replied Dec 5 2022, 11:00

Add these details to find the right lender:

Sale price, loan amount requested, your general FICO score, market rents, repairs needed and cost

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Deb S.
  • Investor
  • Punta Gorda, FL
82
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90
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Deb S.
  • Investor
  • Punta Gorda, FL
Replied Dec 6 2022, 04:48

@Jacobo B. If you want someone to fund your deal, you need to present a summary package so it looks professional and not like this is your first rodeo. I look for PP, ARV, exit strategy (preferably more than 1 in case your first choice does not work out as planned), length of time funds are needed, scope of work for rehab, pictures of interior and exterior, references, etc.

If you want someone to lend you a large sum of money that does not know you, the best thing to do is create a relationship first. Second thing is to make them comfortable that you WILL repay them and how your will give them back the principal amount loaned to you (exit strategy).

Hope this helps.