Updated over 9 years ago on . Most recent reply
Private Money Lender Sought
I currently have a property in Rock Hill, South Carolina that has an ARV of 80k and I got it for 37k. I intend to put 30k into it and refi it out but the issue is that the owner wants to do a cash purchase and I don't have that much plus the rehab cash. Anyone have a recommendation for a private lender that would like to make 13 percent on their money fast? If I can get the cash to buy the house outright, I'm going to fix it up and refi it. The private lenders I have called are all tapped out with other deals. Any takers or thoughts on the matter?
Most Popular Reply
Todd Klimpel Have you thought about using a hard money lender like Lima One?
Also, depending on what kind of relationships you have with a local bank, you may be able to get a construction loan from them. Construction loans on investment properties through local banks are hard to come by but they do exist.