Updated about 2 years ago on . Most recent reply
Looking For Hard Money Lender
I am a flipper In southern indiana. Currently flipping 2 homes, just closed today on the second. My issue that im having is my lender states that bc im getting properties for say 50k, with a rehab budget of 45k it's not worth it to them running interest only payments. They are looking for bigger deals. Is this normal? I feel like I'm being punished for getting properties on the cheaper side. Mind you ARV is 150k plus. Is there any lenders out there who are not going to be a pain with these types of deals ? Credit score 780, never a late payment on anything etc. if there are lenders out there please message me your origination fees, interest rate for say 6- 12 month term. Looking for 90% LTV with 100% rehab. If 100% funding for the whole project is a possibility even better! Looking to connect as soon as possible.