Rookie Looking for Lender to Fund First Deal

Columbus, Ohio
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Rookie Looking for Lender to Fund First Deal

Raul Gonzalez
Member since 2025 · 6 posts · 13 votes

Hello guys, 

I am not sure if I am allow to look for private lenders through the forums so my apologies if I am not, but here I am.

Like the title says, I am a rookie looking for funds. My agent sent me a fix and flip property that has potential in doubling its ARV from asking price 235k to ARV 425k with an estimate rehab cost of 65k. My goal is to fix it and do a dscr refinance to be able to hold it. This would be my first deal as well so if theres any lenders that would like to invest in me message me to provide more detail about the property.

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Nicholas L.Pro Member
Flipper/Rehabber · Pittsburgh · Member since 2018 · 6k+ posts · 5k+ votes
1y

@Raul Gonzalez

just a few miscellaneous reactions:

-you don't need a 'private' lender, you just need a lender, probably a hard money lender, someone local and reputable

-if you don't have a good bit of cash on hand, this isn't the deal for you.  holding costs alone on something in that price range are likely a few thousand dollars a month.  i don't know anything other than what you posted, but for something like this you likely need $30-40K cash to close + $20-25K holding + reserves.  no one is going to loan you all 300K plus closing costs on your first deal. 

-if this deal is listed on the MLS and is just sitting unpurchased, it means other investors have passed on it, and you're missing something

not trying to be negative, just realistic.  good luck

4Reply
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  • Alfonso Partida
    Real Estate Consultant · [email protected] · Member since 2024 · 51 posts · 10 votes
    1y

    Hey Raul, I’d love to connect. Are you available for a quick call tomorrow?

    0Reply
  • Raul Gonzalez
    OP
    Member since 2025 · 6 posts · 13 votes
    1y

    Hey Alfonso,

    I am available tomorrow

    0Reply
  • Devin PetersonBusiness Member
    Lender · Sarasota, FL · Member since 2022 · 2k+ posts · 664 votes
    1y
    Quote from @Raul Gonzalez:

    Hello guys, 

    I am not sure if I am allow to look for private lenders through the forums so my apologies if I am not, but here I am.

    Like the title says, I am a rookie looking for funds. My agent sent me a fix and flip property that has potential in doubling its ARV from asking price 235k to ARV 425k with an estimate rehab cost of 65k. My goal is to fix it and do a dscr refinance to be able to hold it. This would be my first deal as well so if theres any lenders that would like to invest in me message me to provide more detail about the property.

    Raul, there are tons of options available for you here in this space. What you are looking for the BRRRR strategy. Would be more than happy to educate you on proper ways to approach this method!
    [email protected]860-538-3672
    ProAlpha Capital56 Reviews
    WebsiteView Page
    0Reply
  • Trina Woods
    Lender · Member since 2022 · 15 posts · 3 votes
    1y

    Hey Raul. Congrats on your new venture! Would love to discuss a few options for your first deal. 

    0Reply
  • Marc Walowitz
    Lender · CT · Member since 2023 · 21 posts · 8 votes
    1y

    Morning Raul, willing to analyze the deal with you. Reach out anytime. Good luck in your first venture. Marc

    0Reply
  • Mike GrudzienPro Member
    Lender · Eugene, OR · Member since 2019 · 2k+ posts · 1k+ votes
    1y

    You said this is your first deal.  Is it your first flip/remodel?  Do you have construction experience?

    0Reply
    • Raul Gonzalez
      OP
      Member since 2025 · 6 posts · 13 votes
      1y
      Quote from @Mike Grudzien:

      You said this is your first deal.  Is it your first flip/remodel?  Do you have construction experience?

      Yes it is. It is actually my first property so I have no experience and I also dont have construction experience. I know this is something big for my first deal but I really think its a great investment and dont want to lose the opportunity just for lacking experience. 
      0Reply
  • Mike GrudzienPro Member
    Lender · Eugene, OR · Member since 2019 · 2k+ posts · 1k+ votes
    1y

    Can you find a local mentor, coach or advisor?

    0Reply
  • Brandon Croucier
    Lender · Nashville, TN · Member since 2024 · 700 posts · 284 votes
    1y

    Hey Raul, based on the numbers this seems like a great deal, it has plenty of margin.

    Are you looking for debt for financing or are you looking for a equity partner?

    0Reply
  • Andrew Zamboroski
    Lender · Member since 2021 · 495 posts · 130 votes
    1y
    Quote from @Raul Gonzalez:

    Hello guys, 

    I am not sure if I am allow to look for private lenders through the forums so my apologies if I am not, but here I am.

    Like the title says, I am a rookie looking for funds. My agent sent me a fix and flip property that has potential in doubling its ARV from asking price 235k to ARV 425k with an estimate rehab cost of 65k. My goal is to fix it and do a dscr refinance to be able to hold it. This would be my first deal as well so if theres any lenders that would like to invest in me message me to provide more detail about the property.

    This sounds like it could work for a fix and flip loan. You will likely need to bring more money to close and/or have other tradelines to make up for lack of experience. Happy to see if we can make something work.

    Cheers
    0Reply
  • Nicholas L.Pro Member
    Flipper/Rehabber · Pittsburgh · Member since 2018 · 6k+ posts · 5k+ votes
    1y

    @Raul Gonzalez

    just a few miscellaneous reactions:

    -you don't need a 'private' lender, you just need a lender, probably a hard money lender, someone local and reputable

    -if you don't have a good bit of cash on hand, this isn't the deal for you.  holding costs alone on something in that price range are likely a few thousand dollars a month.  i don't know anything other than what you posted, but for something like this you likely need $30-40K cash to close + $20-25K holding + reserves.  no one is going to loan you all 300K plus closing costs on your first deal. 

    -if this deal is listed on the MLS and is just sitting unpurchased, it means other investors have passed on it, and you're missing something

    not trying to be negative, just realistic.  good luck

    4Reply
  • Drago Stanimirovic
    New to Real Estate · Miami, FL · Member since 2024 · 1k+ posts · 441 votes
    1y

    Looks like a solid first deal, if your numbers check out, it’s worth moving forward. Depending on the location, we even have programs that allow up to 100% financing for purchase and rehab. Lenders care more about the deal than experience if the plan is tight. Get your comps, budget, and exit strategy lined up. Happy to take a look and see what’s possible.

    0Reply
  • Aryia BalaBusiness Member
    Lender · 26 Harbor Park Dr Port Washington, NY 11050 · Member since 2023 · 49 posts · 9 votes
    1y

    We lend in the area. Seems like a great deal - Let's connect!

    [email protected]866-611-4206
    Malve Capital LLC4.759 Reviews
    WebsiteView Page
    0Reply
  • Mike Klarman
    Specialist · NJ · Member since 2022 · 1k+ posts · 649 votes
    1y

    When I see a spread like that and the rehab is only 65k, I'd really take a deep dive.  I'm not saying your agent does this, however, many young, bright-eyed investors are fed inflated comps and it's easy to do if the agent knows that you do not know the market and you are not digging into the features of the comps.  For instance, your house may be a 3/1.5 with no basement and the agent will send you a 3/2 with a basement as a comp and it of course got top dollar cause finishes were nice and layout more appealing.

    Go back and ask your agent for the lowest three comps, not highest three.  See what those are.  PPL rarely, and I mean rarely get there asking/appraisal price at exit.  Some are 25%+ off.  I had a house 18 months ago appraise for 420k after the rehab and the actual exit was 360k.  You routinely see 10% - 15% off, routinely.

    2Reply
  • Connor Hibbs
    Lender · Ellington, CT · Member since 2024 · 210 posts · 103 votes
    1y

    Hi Raul,

    I'd be happy to go over some of the different types of options you may have if you'd like.

    0Reply
  • Lily Levi
    Lender · Charlotte, NC · Member since 2025 · 14 posts · 2 votes
    1y

    Hi Raul, I DM'd you. Looking forward to discussing your financing needs further! 

    0Reply
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