Hard Money Lenders in SWFL?

Question

My husband and I are starting our own real estate investment company and wanting to get our first flip somewhere in FL as soon as next week. Trying to figure out the best way to find a hard money lender that will allow only $10,000 from us out of pocket. Any suggestions?

Doug Clark · Answer

It all depends on the specific details of the property like pp, rehab and arv. 10k would be to low given you'd need to have dp and closing costs. Best bet is to get a JV Partner or Private lenders lending their own funds to get it started.

Adam Bartomeo · Answer

The lender will want to know the loan amount vs the down payment. I am currently purchasing properties in Lee County and have an excess of properties. There are so many deals right now. Its a great time to get started.

Tracy Scott · Answer

Hi Kristen, that’s so exciting — congrats on getting ready for your first flip!

I’ve had the chance to work with many real estate professionals over the years and completely understand how important it is to find the right lender, especially when you’re just starting out.

I’d love to stay connected and follow your journey — it’s always great to build relationships with others in the real estate community. Wishing you lots of success with your first deal!

Erik Estrada · Answer

As a first timer I would highly recommend getting a JV partner with experience or funding or save a bit more. $10k is very low.