Updated about 10 years ago on .
Looking to build relationship with private money lender
I'm looking to build a relationship with a private money lender to fund my next few deals in the Kansas City, MO (KCMO) area. I am looking to acquire distressed properties, fix them up and hold them for the long haul.
I'm pretty new, I currently have my first investment property under contract, will close in a few weeks. I'm using a FNMA rehab loan to fund the purchase + rehab. For my next deal I'd like to use private money short-term to fund the purchase + rehab, then refinance out when complete.
Example deals I need financing for:
Purchase: $40K-$60K
Rehab: $20K-$30K
ARV: $100K+
Rents: $1000+
Cash Out Refi: 75% LTV when done
I'm looking for a lender who won't mind me using a HELOC to cover down payment + closing + holding. Basically I'm looking to leverage my equity spread on the back end to cover most/all of my down payment.



