In need of a HML for a fix & flip project. Experienced yet conservative real estate investor. Buy & hold investor with 20 + properties in rental portfolio. Also own a 123 unit franchise hotel with banquets & bar. Have flipped 2 hotels. Have also flipped 6-7 residential properties in the last 24-36 mos. Credit score 700+. Current project: Bought SFH for own cash $43,000 on Oct 18th 2018. Property zip 46225. Needs $125K worth of repair. Conservative ARV $225K. I was working on closing this project with another HML but unfortunately decided to walk away from the closing table mainly due to non-transparency of fees, and utter lack of communication. Deal with the HML was 7.99% interest only 12 months, 2 points, and $499 document fee. I am hoping I can find a reputable, fast closing and straight forward lender. Looking to build a long term relationship. I am based and invest in Indiana. Much regards!
Updated about 2 months ago
sorry but forgot to add looking for 90% cash out of purchase price & 100% of construction cost
Sage, maybe we can help, please send me an email address and phone number so we can discuss it. Hope to hear from you
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