Lenders for house rehab

Indianapolis, IndianaWantProfessionalsLender

Lenders for house rehab

Member since 2022 · 7 posts · 12 votes

I bought this house with cash for $24,000. The ARV is a comfortable 200k. The rehab will be 40-45k. However I am needing cash to fix it up. I am self employed and try to not show much income. Is there any lender who can do a dscr loan for rehab? Or if you have any ideas I would love to hear it! Thanks in advance.

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Micah White

Real Estate Coach · Chicago, IL · Member since 2020 · 171 posts · 64 votes

Check out Gavin Fisher on LinkedIn. He's an Indy guy that deals with private money. He's your guy! Tell him I sent you. He'd be happy to jump on a call

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Mike GrudzienPro Member
Lender · Eugene, OR · Member since 2019 · 2k+ posts · 1k+ votes
1y
I don't have an answer to your quest, but those are pretty amazing numbers!
A property purchased for only $24K that needs only $40-45K for rehab to generate an ARV of "a comfortable $200k"!!
Wow! I want to be in your world!
1 Reply
- Jacob Hancock
  OP
  Member since 2022 · 7 posts · 12 votes
  1y
  @Mike Grudzien I fell into the deal!!
  0 Reply
Micah White
Real Estate Coach · Chicago, IL · Member since 2020 · 171 posts · 64 votes
1y
Check out Gavin Fisher on LinkedIn. He's an Indy guy that deals with private money. He's your guy! Tell him I sent you. He'd be happy to jump on a call
1 Reply
Erik EstradaBusiness Member
Lender · Member since 2022 · 6k+ posts · 1k+ votes
1y
Quote from @Jacob Hancock:

I bought this house with cash for $24,000. The ARV is a comfortable 200k. The rehab will be 40-45k. However I am needing cash to fix it up. I am self employed and try to not show much income. Is there any lender who can do a dscr loan for rehab? Or if you have any ideas I would love to hear it! Thanks in advance.

Have you looked into taking on a business line of credit and then doing a cash out refi with a DSCR loan?
[email protected]818-269-7983
LuxePrivate Investments LLC 572 Reviews
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0 Reply
- Jacob Hancock
  OP
  Member since 2022 · 7 posts · 12 votes
  1y
  @Erik Estrada I have and have been denied. My NW is right over 500k and have healthy equity on all my stuff. Average 50% equity. Normal lenders won't touch me. Credit is over 700 as well.
  0 Reply
- Erik EstradaBusiness Member
  Lender · Member since 2022 · 6k+ posts · 1k+ votes
  1y
  Quote from @Jacob Hancock:
  
  @Erik Estrada I have and have been denied. My NW is right over 500k and have healthy equity on all my stuff. Average 50% equity. Normal lenders won't touch me. Credit is over 700 as well.
  
  You could do it on a bridge loan, however the lender will holdback some of the funding and you will need to request draws.
  [email protected]818-269-7983
  LuxePrivate Investments LLC 572 Reviews
  Website View Page
  0 Reply
Andrew Zamboroski
Lender · Member since 2021 · 495 posts · 130 votes
1y
Quote from @Jacob Hancock:

I bought this house with cash for $24,000. The ARV is a comfortable 200k. The rehab will be 40-45k. However I am needing cash to fix it up. I am self employed and try to not show much income. Is there any lender who can do a dscr loan for rehab? Or if you have any ideas I would love to hear it! Thanks in advance.

You would likely need to do a bridge loan with rehab and then refi into a DSCR loan. Do you have any experience?
1 Reply
- Jacob Hancock
  OP
  Member since 2022 · 7 posts · 12 votes
  1y
  @Andrew Zamboroski also I am 26 I don't know if my age is still a factor in their decisions or not.
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Jacob Hancock
OP
Member since 2022 · 7 posts · 12 votes
1y
Yes I am on my fourth house and had the cash to buy one and fix it up and then refi. On this deal not So much. So takes that for what it's worth.
1 Reply
- John Salcedo
  Member since 2022 · 74 posts · 45 votes
  1y
  Quote from @Jacob Hancock:
  
  Yes I am on my fourth house and had the cash to buy one and fix it up and then refi. On this deal not So much. So takes that for what it's worth
  I’m also buying in Indy. Would love to connect. Great market
  0 Reply
LaMancha SimsBusiness Member
Lender · Atlanta, GA · Member since 2019 · 240 posts · 41 votes
1y
Hi Jacob, I Would Love To Connect With You And Discuss Details.
Sims Ventures.
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Tarik Turner
Lender · Hackensack, NJ · Member since 2016 · 1k+ posts · 372 votes
1y
DSCR loans are30 year rental products you would need a rehab loan for something like this. Depending on when you purchased it, I would suggest a delayed purchase loan. You would get about 80 to 90% of the purchase amount back plus rehab costs held in escrow. That would be the only way you could reach most lenders loan minimums with this deal.
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Pierre Guirguis
Lender · Marlboro, NJ · Member since 2025 · 243 posts · 150 votes
1y
Would love to help!
0 Reply
Chris SeveneyBusiness Member
Moderator
Investor · VA · Member since 2015 · 21k+ posts · 19k+ votes
1y
Quote from @Jacob Hancock:

I bought this house with cash for $24,000. The ARV is a comfortable 200k. The rehab will be 40-45k. However I am needing cash to fix it up. I am self employed and try to not show much income. Is there any lender who can do a dscr loan for rehab? Or if you have any ideas I would love to hear it! Thanks in advance.

you do not do a DSCR for rehab you do a bridge loan and some lenders will offer discount when complete to give you the DSCR loan - that is the path I would look to go down, get the bridge loan for rehab then use same lender for DSCR.
7e investments53 Reviews
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Kevin Nguyen
Member since 2025 · 6 posts · 2 votes
1y
@Jacob Hancock I can help you secure the funding your looking for. It sounds like bridge loan might be best but I want to understand fully maximize out your options
0 Reply
Kerry Noble JrPro Member
Investor · Indianapolis, IN · Member since 2018 · 2k+ posts · 1k+ votes
1y
Quote from @Jacob Hancock:

I bought this house with cash for $24,000. The ARV is a comfortable 200k. The rehab will be 40-45k. However I am needing cash to fix it up. I am self employed and try to not show much income. Is there any lender who can do a dscr loan for rehab? Or if you have any ideas I would love to hear it! Thanks in advance.

Check with @Staci Rogers
1 Reply
Jake YuskaitisBusiness Member
Lender · New Jersey, USA · Member since 2022 · 254 posts · 67 votes
1y
very small loan amount. will be difficult
[email protected]551-287-6884
Frontier Funding LLC533 Reviews
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James McGovern
Flipper/Rehabber · Bloomfield CT · Member since 2020 · 1k+ posts · 408 votes
1y
There are many private lenders that can help. They underwrite based on the deal and your credit and not your income
0 Reply
Nick BelskyBusiness Member
Residential and Commercial Broker · Member since 2021 · 1k+ posts · 704 votes
1y
@Jacob Hancock
Being paid with cash helps. The larger issue for financing will be the low loan amount. Many like to see loans in at least the $75k-$100k range. You'll likely need to "cash out" some of the initial equity to get the loan with full rehab above $50k to even have a chance here. You could also inflate the rehab budget to push the loan amount up. A few ways to skin a cat here.
Cheers!
[email protected]
Belsky Mortgage, LLC527 Reviews
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Richard Ferrentino
Lender · Closter, NJ · Member since 2025 · 4 posts · 0 votes
1y
Hi Jacob,

I would be happy to discuss several options with you. Let me know!
0 Reply
Deborah Wodell
Lender · Sanford, NC · Member since 2024 · 348 posts · 116 votes
1y
Rehab Loans only are possible for this.
0 Reply
Cathy Berg
Member since 2025 · 7 posts · 2 votes
1y
Hey Jacob,

I'll be able to help you out if you're still looking advice and possibly financing solutions for you. Let me know if you want to discuss. Thanks!
0 Reply
Peter Adamo
Member since 2025 · 19 posts · 5 votes
1y
Hi
that is gonna be a little tough. A DSCR loan usually has a minimum requirement of $100,000-$120,000. If there's a rehab required you're gonna have to do that first with a bridge loan. Many lenders don't lend out unless the purchase press the loan is 75,000 or more with a cash out refi you will have had to own the property for at least six months with most lenders before they would consider doing a cash out refi let me know if you have any other questions

Peter
0 Reply
Jane Betts
Member since 2025 · 25 posts · 2 votes
1y
Hey Jacob, you probably already have a lender but in case you are still shopping round or you have any future projects I would love to be a lending resource. Let's connect.
(731) 330-4782
[email protected]
Caycecapital.com
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Account Closed
New to Real Estate · Member since 2025 · 76 posts · 7 votes
1y
Yes, there are funding options available for situations like yours. Since you purchased the property in cash and have strong equity (ARV of $200K), a bridge or rehab loan would likely be the best fit rather than a traditional DSCR loan, which usually requires the property to be rent-ready or stabilized.

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Steven Baum
Member since 2025 · 146 posts · 4 votes
1y
Hey Jacob, were you able to find a lender for this deal?
0 Reply
Jack Watkins
Member since 2025 · 16 posts · 2 votes
1y
Quote from @Jacob Hancock:

I bought this house with cash for $24,000. The ARV is a comfortable 200k. The rehab will be 40-45k. However I am needing cash to fix it up. I am self employed and try to not show much income. Is there any lender who can do a dscr loan for rehab? Or if you have any ideas I would love to hear it! Thanks in advance.

Feel free to call or leave me a message 203.551.9515. You can also email me the details at [email protected]
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