I need hard money or a partner in Central FL.

[James D. Hite]

I am having a hard time understanding hard money loans. I can find deals and get rehab done. I need funding. I know a house now that should be an easy flip.

Asking 290k. I want to offer 180k. 20k rehab. ARV 270k Has good roof and tile floors.

Any advice would be GREATLY appreciated.

[Chris Seveney]

Quote from @James D. Hite:

Quote from @Matt Devincenzo:

What's the potential for actually getting this UC at $180K? Just because you want to throw a low ball offer out (which may be the right number) doesn't mean anyone will accept it. Is the 'hook' that you need a partner to present a cash offer to make this work? Or has it been listed long enough to warrant a ~35% price reduction? 

 I want to get a project/deal under my belt. I believe this particular house would be a good flip. It is less than one mile from where I live (that's a plus) They have lowered the price, it's been on market about 30 days. I am not trying to low ball. Just trying to make the numbers work. I tried a hard money loan, but they wanted 34k down. I am willing to partner with someone just to get this done. It is a 2/2. Can be a 3/2. Big lot, fence, roof is metal, floors are very good. Mainly cosmetic. I can do rehab. Split profit. 

 The issues with getting funding today are twofold. Lenders have gotten very tight with there money and they are looking for investors with experience and cash. If you have the cash they be more lenient on the experience and if you have the experience they may be more lenient on the cash, but not both.