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Gabriel Alfaro
  • Investor
  • Miami, FL
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Can anyone recommend some hard money lenders in the Cincinnati, OH area

Gabriel Alfaro
  • Investor
  • Miami, FL
Posted Jan 15 2023, 17:18

Hey everyone, 

Looking to purchase my first fix and flip and wanted to get some recommendations on some hard money lenders in the Cincinnati, OH area that I may be able to use. Preferably that will do 85-90% LTV and if you have used them before I would appreciate your feedback. All feedback and help is welcome. Thank you

Offering
Cincinnati, Ohio

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Rob Beeman
  • Specialist
  • Philadelphia, PA
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Rob Beeman
  • Specialist
  • Philadelphia, PA
Replied Jan 16 2023, 07:07

Gabriel, I might be able to assist. It is not what I would call hard money, but here is the summary of what can be supplied:

100% financing of the purchase & rehab amounts OR 65% of the ARV (after repaired value), whichever is less on 1-4 unit properties, for borrowers that have done 3 or less transactions in the last 3 years (it sounds like this is you).

Minimum loan is $75K, and that would make the minimum ARV $115.5K.

Do not loan in "rural" areas. The loan is supplied to your LLC and the additional guarantor(s) must have a Min. mid-FICO of 660+.

Feel free to message me if I can help, Rob