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Updated 2 months ago on . Most recent reply

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Soliciting for fix and flip lenders (beach property)

Posted

Searching for a reasonable lender to fund a fix and flip. 

There are two of us applying, one of us has never flipped a property but does have multiple buy and holds, the other partner has done 40-50 deals 5-8 years ago. 

The deal:

looking at an off-market deal on the beach in Pinellas County, Fl

2 story home on the water

3,800 sq ft. 

5 bed 6 bath

Price: 1.5 mill

ARV: 3.1 mill

renovation costs will run 400k

I can put up to 200k down for purchasing. 

Looking for 100% renovation coverage with 6-9 months to sell. 

Willing to pay points/put up property as collateral etc.

Reach out with your options and offers. 

Would like to move on this ASAP. 

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