I purchased my first property a nontraditional route in 2023 and I’m looking to fix and flip the property! This is a fantastic property and opportunity because it only needs the basement finished and very little done on the main level. This property is a gold mine because it sits on 0.28 acres in Denver and it has potential to have a full basement rental property because it has a separate entrance through the backyard. The basement is already hooked up with full electric and plumbing. I am looking for somebody who can refer me to a hard money lender so I can get this property sold.
Specialist · NJ · Member since 2022 · 1k+ posts · 653 votes
5mo
You own it free and clear? What are the numbers:
Purchase price
Rehab
ARV
You are looking to move into a bridge loan 3 years after purchase. Some lenders have this as an option and some do not. Denver is a top notch market. From what I know of that market, you are not buying a fixer upper for less than 300k and ARVs go into the 700s - 900s.
I've closed financing for clients in this situation a few times. It can be done, just need to hunt down all the info they would want.
Lender · Phoenix, AZ · Member since 2023 · 136 posts · 32 votes
5mo
Happy to chat through your fix and flip options. You should be able to close without needing a credit check. Terms will vary based off experience and extent of remodels.