Funding for low purchase price Fix-n-Flips

[Aaron VanVynckt]

Hello Everyone,

I do BRRRR's and Fix-n-Flips primarily in northern Indiana and some central North Carolina. Been doing it for 3 years now and things are going well, however, I'm trying to shift to lower value SFH's (for flips) as I've had trouble recently moving mid-high value homes. Specifically, in Indiana, homes in the $140K-$260K price range move easy and quick. The problem I have is with funding. The hard money lenders I've been using have a $100K minimum purchase price on their fix-n-flip loans.

Many of the deals for flips I'm trying to secure are at purchase prices sub $60K, with $50K-$90K in renovation costs. I usually can lend 85-90% of purchase price and 100% of construction costs (in draws), but I haven't been able to find lenders for these types of deals. Would appreciate any info/sources on lenders willing to fund in this price range, or any creative financing suggestions.

Thanks, Aaron 

[Aaron VanVynckt]

Quote from @Patrick Roberts:

Quote from @Aaron VanVynckt:

Hello Everyone,

I do BRRRR's and Fix-n-Flips primarily in northern Indiana and some central North Carolina. Been doing it for 3 years now and things are going well, however, I'm trying to shift to lower value SFH's (for flips) as I've had trouble recently moving mid-high value homes. Specifically, in Indiana, homes in the $140K-$260K price range move easy and quick. The problem I have is with funding. The hard money lenders I've been using have a $100K minimum purchase price on their fix-n-flip loans.

Many of the deals for flips I'm trying to secure are at purchase prices sub $60K, with $50K-$90K in renovation costs. I usually can lend 85-90% of purchase price and 100% of construction costs (in draws), but I haven't been able to find lenders for these types of deals. Would appreciate any info/sources on lenders willing to fund in this price range, or any creative financing suggestions.

Thanks, Aaron 

 Are any of these properties in NC? And if so, what area?

 These properties are in Indiana; however, I do properties in central NC too. No new deals in the works right now though.