Private Lender in Philadelphia for $100k construction loan

[Troy Sheets]

As the title says, I'm looking for private lender to fund the rehab of a single family shell in Philadelphia. It's a rental, not a flip, so I won't get stuck if the market turns. I paid $10k for it, it's worth $70k+ as a shell with building permits in hand and ARV is $180k. Rehab should take 6 months max, plan on lending for 8 just in case and so I have time to refi, and be flexible to go out to 12 months worst case. Shouldn't need more than the 8 but you just never know. Happy to pay an extra point if we go past the 8 months.

You'd be in first position protected by $70k in equity. My partner and I have excellent credit and reserves. Yes, I know we can get similar terms from a HML, we're just looking to build a new relationship that could grow into potentially investing in projects together, etc. Thanks!

[Irfan Raza]

If this is the one we discussed the other day, I would say $70k is conservative! I sold a shell around the corner for $85k. Nevertheless, I have a couple good lenders I have been working with recently.  Talk soon.