Hard money lenders in North Suburbs of Chicago
Hey everyone
I keep learning more about Real Estate and I was recommended to flip a house with very little money of my own. I was planning to start it in another state, however, if I can make this work, I can still do it in Illinois(with high property prices).
Can anybody recommend Hard Money Landers in the North Suburbs of Chicago? I want to learn much more before starting and that's what I am doing right now, so if you have any advice, I would appreciate that!
And there is another question if I take a hard money loan, do they lend you a little extra of your needs for a Rehab price? I have heard somewhere, that some lenders would lend you up to 85% of the house after the repair value, so if the house cost $250k and after the repair would be $350k, the lender can lend you up to $297.5k!
Please correct me if this info is not legit!
I would really appreciate your help!