Seeking Private Lender

Fort Lauderdale, FloridaWantFinancingPrivate Money
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Seeking Private Lender

Aaron Barfield
Member since 2023 · 17 posts · 3 votes

Are there any private lenders available? I am seeking $150,000 to finish a renovation project and will sell the property as an exit strategy. I'm hoping to find a loan that's not based on personal credit or income. Thanks

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  • Christopher Grobaker
    Member since 2023 · 22 posts · 3 votes
    2y

    Hey Aaron - I can get past the no income portion but the credit might need to be renegotiated. Feel free to reach out to talk we'll fund 100% of the rehab

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  • Aaron Barfield
    OP
    Member since 2023 · 17 posts · 3 votes
    2y
    Quote from @Christopher Grobaker:

    Hey Aaron - I can get past the no income portion but the credit might need to be renegotiated. Feel free to reach out to talk we'll fund 100% of the rehab

    What are your terms? What's the minimum credit score required for consideration? The property will be sold in a few months after the renovations.
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  • Christopher Grobaker
    Member since 2023 · 22 posts · 3 votes
    2y
    Quote from @Aaron Barfield:
    Quote from @Christopher Grobaker:

    Hey Aaron - I can get past the no income portion but the credit might need to be renegotiated. Feel free to reach out to talk we'll fund 100% of the rehab

    What are your terms? What's the minimum credit score required for consideration? The property will be sold in a few months after the renovations.

     Sent you a direct message Aaron - let me know if I can assist any further

    0Reply
  • Erik EstradaBusiness Member
    Lender · Member since 2022 · 6k+ posts · 1k+ votes
    2y
    Quote from @Aaron Barfield:

    Are there any private lenders available? I am seeking $150,000 to finish a renovation project and will sell the property as an exit strategy. I'm hoping to find a loan that's not based on personal credit or income. Thanks


     Hi Aaron, 

    What is the current property state? Is it under construction? If so, you would need to look into a mid construction loan. Lenders will finance up to 70% of the ARV, which includes paying off your first mortgage and financing the rehab budget. These are tough, but doable.

    No personal DTI is required to qualify however you will need a minimum fico of 680, show you have completed some projects in the last 36 months, and be able to show reserves (usually 6 months)

    If the property hasn't been touched and is in a habitable state, you could consider doing a cash out refi with a bridge or DSCR loan. Minimum FICO score is 650.

    [email protected]818-269-7983
    LuxePrivate Investments LLC 572 Reviews
    WebsiteView Page
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  • Marty JohnstonPro Member
    Lender · Wauwatosa, WI · Member since 2016 · 571 posts · 204 votes
    2y
    Quote from @Aaron Barfield:

    Are there any private lenders available? I am seeking $150,000 to finish a renovation project and will sell the property as an exit strategy. I'm hoping to find a loan that's not based on personal credit or income. Thanks


     Hey Aaron,

    You have options here depending on a few factors. This is a Hard Money Loan with no minimum credit score requirements. You may also have alternative solutions if you own other cash flowing real estate where you could 'pledge the future cash flow' to obtain a loan against it. No pre payment penalties, no appraisals, no liens, no minimum credit score, no reporting to credit (biz or personal) - that route obviously requires other cash flowing real estate (ANY cash flowing rental income will do - residential, commercial, MHP, etc). If you're a developer, you could get an advance against your developer fee as well.

    The simplest would be a hard money loan and your equity in the deal could contribute. Looks like this deal is in Fort Lauderdale, which is a good market for most HMLs, it will all come down to how the numbers pencil out. (ARV caps will be between 65-75% ARV)

    Just shot you a DM - happy to help if I can!

    [email protected]414-600-0123
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  • Devin PetersonBusiness Member
    Lender · Sarasota, FL · Member since 2022 · 2k+ posts · 667 votes
    2y
    Quote from @Aaron Barfield:

    Are there any private lenders available? I am seeking $150,000 to finish a renovation project and will sell the property as an exit strategy. I'm hoping to find a loan that's not based on personal credit or income. Thanks


     Do you have someone that you can partner with to credit qualify? Why cant you use your own credit?

    [email protected]860-538-3672
    ProAlpha Capital56 Reviews
    WebsiteView Page
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  • Aaron Barfield
    OP
    Member since 2023 · 17 posts · 3 votes
    2y
    Quote from @Devin Peterson:
    Quote from @Aaron Barfield:

    Are there any private lenders available? I am seeking $150,000 to finish a renovation project and will sell the property as an exit strategy. I'm hoping to find a loan that's not based on personal credit or income. Thanks


     Do you have someone that you can partner with to credit qualify? Why cant you use your own credit?

    Yes, I have a partner. 
    0Reply
  • Devin PetersonBusiness Member
    Lender · Sarasota, FL · Member since 2022 · 2k+ posts · 667 votes
    2y
    Quote from @Aaron Barfield:
    Quote from @Devin Peterson:
    Quote from @Aaron Barfield:

    Are there any private lenders available? I am seeking $150,000 to finish a renovation project and will sell the property as an exit strategy. I'm hoping to find a loan that's not based on personal credit or income. Thanks


     Do you have someone that you can partner with to credit qualify? Why cant you use your own credit?

    Yes, I have a partner. 

     Use their credit if yours isn’t good at the moment 

    [email protected]860-538-3672
    ProAlpha Capital56 Reviews
    WebsiteView Page
    0Reply
  • Chris Arnold
    Investor · Nationwide · Member since 2024 · 126 posts · 19 votes
    2y

    Hi Aaron...if you are still needing a private money lender, go to my site, fill out the form and I'll give you a call so we can chat about your deal.

    Thanks Chris

    0Reply
  • Chris Arnold
    Investor · Nationwide · Member since 2024 · 126 posts · 19 votes
    2y
    Quote from @Chris Arnold:

    Hi Aaron...if you are still needing a private money lender, go to my site, fill out the form and I'll give you a call so we can chat about your deal.

    Thanks Chris

    Hi Aaron...looks like something is keeping the link from working correctly within the message. Please connect me if you would like to discuss things further.

    0Reply
  • Araceli Gutierrez
    Member since 2024 · 63 posts · 6 votes
    2y

    I am equipped to provide funding solutions tailored to projects involving property renovation and resale (fix and flip), long-term property ownership (fix and keep), as well as refinancing initiatives.

    0Reply
  • Haneefah Abdullah
    Member since 2024 · 30 posts · 0 votes
    2y
    Quote from @Aaron Barfield:

    Are there any private lenders available? I am seeking $150,000 to finish a renovation project and will sell the property as an exit strategy. I'm hoping to find a loan that's not based on personal credit or income. Thanks


     Do you still need funding on other deals that you are working on? 

    0Reply
  • Anthony Sirianni
    Lender · Nationwide · Member since 2024 · 9 posts · 2 votes
    2y
    Hello Aaron, I seem to be a little late to this post however I am a hard money lender that does not care about income or credit. I lend based on the value of the asset alone. Contact my cell if your looking to work together. 516-512-9216
    0Reply
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