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Hard or private money for REO rehab
Hi BP, I've found a 3bed/2bath REO in Texas I can acquire for 80k (maybe less) and 10% down using seller finance. Before I proceed, I'd like to get expressions of interest on a 29k* loan for rehab costs and project management fees (*quote from experienced project manager / flipper, includes repairs plus a 4th bedroom). The rehab will bring the ARV to 150k (majority of surrounding houses valued at 160k). Then I would refinance it (70% LTV) to pay off the loan, so the term would be 6mos or 1yr (based on seasoning requirements).
Let me know if interested or private message me on BP, and I'll provide more details.
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