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Updated about 9 years ago on . Most recent reply

User Stats

56
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17
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Manuel Prado
  • Midland, MI
17
Votes |
56
Posts

Funding Deals via Hard Money Lenders or Crowdfunding

Manuel Prado
  • Midland, MI
Posted

Hello fellow Michigan Investors. I am currently investing in the Mid-Michigan area and am finding great deals in the $10k-30K purchase price with $10k-30K rehab budget. The problem that I am running into is that the hard money lenders/crowdfunding companies that I have talked to (Realty Shares, Lendinghome, Lending 1, Lima One Capital) can only do a minimum of $75K type of loans, that is purchase price plus rehab budget. There was one deal that I basically had to take an extra $7k out of the rehab budget to meet that line and get the funds. I was fine on paying a little in interest on money that I didn't need for that specific deal, but just to make it work it was worth it. 

Could you guys help me out in trying to find other hard money lender and/or other sources of private money, or whatever idea you may have that could help me take advantage of this $10k-30k deals that I am getting under contract?

Thanks,

Manny

  • Manuel Prado
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