Need money for property in Indianapolis
Hi Scott,
I'm in the same situation as Robin:
The property is in Indianapolis, Marion County, Indiana. as well
The property I bought was a VA foreclosure with a purchase price of about $16k. The rehab costs would be approx 17,000K. A single family property in an area that I is sought after both by buyers and renters, which is near Butler University. The work would be carried out by reputable local contractors and would be project managed by an experienced rehabber/realtor. The property will be rented out. The home is free and clear.
I would like the term to be for one year, with NO prepayment penalty. I have been orginating loans in California for 9 years, so I know how hard money works... I'm just trying to find a true hard money lender who will base it off the equity. A very conserative ARV will be approx 70,000. I do believe it will be higher though.
Please email me if you can help with this project...