Hard Money Leander (fix and Flip Property)

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Hard Money Leander (fix and Flip Property)

Ernest Ruiz
Member since 2023 · 1 post · 0 votes

I am seeking a Hard Money Lender to fund my first fix and flip property—specifically 3805 Niagara St. Corpus Christi, TX. I do have a little capital for a 10% downpayment. Does anyone have any recommendations, thoughts, or tips? 

Thanks for the help, everyone!

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  • Chris SeveneyBusiness Member
    Moderator
    Investor · VA · Member since 2015 · 21k+ posts · 19k+ votes
    2y

    @Ernest Ruiz

    I would try friends and family or a local private lender

    With only 10% down I am not aware of any traditional lenders who will lend with that low a down payment and no experience

    Another option is to bring in a partner and do the deal together. If you go that route find a partner with experience and some money.

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  • Abdiel Garcia Rodriguez
    Investor · AZ · Member since 2022 · 11 posts · 2 votes
    2y

    Hey Ernest!

    I may have some contacts in that area that can possibly help. Also, if you are looking for hard money/private money, and can help with that as well. 

    0Reply
  • Logan Singleton
    Lender · Boston, MA · Member since 2023 · 415 posts · 95 votes
    2y

    Hi @Ernest Ruiz, we might be able to hold depending on the project and your FICO.

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  • Mike Klarman
    Specialist · NJ · Member since 2022 · 1k+ posts · 653 votes
    2y

    I could maybe find you the 10% down if your credit was 720+ and the deal numbers were good BUT how would you afford all the other costs:

    Closing Costs
    Holding Costs
    Money to Front contractor
    Insurance Costs
    Title Costs

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  • Ammabelle Canoy
    Member since 2024 · 33 posts · 3 votes
    2y

    this is a great question - a lot of investors we work with use an unsecured loan to fund the down payment. if its your first deal, I'm guessing you will need more than 10%

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  • Judith Aguilar
    Member since 2023 · 21 posts · 5 votes
    2y

    @Ernest Ruiz
    10% down with no experience will be extremely hard to find anywhere. Do you have any partners that would be willingly to invest a 15 % to get up to 25% down. That may be an option or another hard money lender to cover the gap.

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  • Amanda Cioanca
    Wholesaler · WA · Member since 2024 · 16 posts · 0 votes
    2y

    Hi, my name is Amanda, and our company specializes in Hard money lending, acquisitions and dispositions. Please call me at 437-424-3038, or send me an email to [email protected] and lets get you that home !!!

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  • Sophia Buesing
    Lender · Denver · Member since 2023 · 127 posts · 26 votes
    2y

    Hey Ernest! For the first couple projects we require 20% down. Do you have a partner who could help bringing in the gap?

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