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Updated over 1 year ago on . Most recent reply

User Stats

25
Posts
6
Votes
Ryan Rippinger
  • Flipper/Rehabber
  • Montgomery, IL
6
Votes |
25
Posts

Hard Money Lender for Illinois

Ryan Rippinger
  • Flipper/Rehabber
  • Montgomery, IL
Posted

Looking for a hard money lender for a property in IL, Ive got not so great credit (about 600) and have a house Id like to rehab for myself. I do have the income to afford the property, Id just like to avoid doing a 203K because Im an experienced contractor and not allowed to work on it myself with one of those. The property isnt very expensive (currently listed at 75K) and rehab costs shouldn't be much more than 30K since Im planning on doing the majority of the labor myself. I would also accept just purchase price and funding rehab out of pocket, I do have 25k in cash available currently. 

Thank you for any recommendations 

Most Popular Reply

User Stats

25
Posts
6
Votes
Ryan Rippinger
  • Flipper/Rehabber
  • Montgomery, IL
6
Votes |
25
Posts
Ryan Rippinger
  • Flipper/Rehabber
  • Montgomery, IL
Replied
Quote from @Jonathan Klemm:

Hey @Ryan Rippinger - Sounds like you have the right mindset to get this deal done. Totally smart to avoid FHA 203k loan if you are able to do the work yourself.

I definitely have some Chicago & Illinois hard money lenders that will do your deal...sometimes they need to be over $100k though...I'll shoot you a PM to share contact details.


 Awesome, that’d be great. It’d definitely be over 100k including repairs

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