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Updated over 1 year ago on . Most recent reply

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116
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66
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Luka Jozic
  • New to Real Estate
66
Votes |
116
Posts

Looking for Private Lender

Luka Jozic
  • New to Real Estate
Posted

Hi folks, I won a property at auction about a month ago and realized a minor mistake. As you might know, you cant access the inside of an auction property until after closing, meaning you cant do a full appraisal. I do have a few hard money lenders that can still lend with only an exterior appraisal. My issue is that when I won the property, I won it under my name, and all HM lenders I know require that I close in an LLC. I called the county today and they said if I want to switch the name to my LLC now, its will most likely delay it about 3 months. It's not the end of the world, but I am paying $12/day interest until I close. So, I thought I would post and see if anyone knows of any private or hard money lenders that can lend with only an exterior appraisal, and does not require an LLC? The property is in Cleveland Ohio.

Most Popular Reply

User Stats

992
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476
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Brittany Minocchi
  • Lender
  • Massillon, OH
476
Votes |
992
Posts
Brittany Minocchi
  • Lender
  • Massillon, OH
Replied
Quote from @Luka Jozic:

Hi folks, I won a property at auction about a month ago and realized a minor mistake. As you might know, you cant access the inside of an auction property until after closing, meaning you cant do a full appraisal. I do have a few hard money lenders that can still lend with only an exterior appraisal. My issue is that when I won the property, I won it under my name, and all HM lenders I know require that I close in an LLC. I called the county today and they said if I want to switch the name to my LLC now, its will most likely delay it about 3 months. It's not the end of the world, but I am paying $12/day interest until I close. So, I thought I would post and see if anyone knows of any private or hard money lenders that can lend with only an exterior appraisal, and does not require an LLC? The property is in Cleveland Ohio.

What is the purchase price/value of the property? 
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Brittany Minocchi - Barrett Financial Group, LLC
5.0 stars
16 Reviews

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