Rehabbing & House Flipping

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Samuel Hopkins
  • Investor
  • Martinsville, VA
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Virginia Private/Hard Money Lender Suggestions?

Samuel Hopkins
  • Investor
  • Martinsville, VA
Posted Dec 8 2019, 21:49

I have a lot of great leads, but I do not yet have a specific property that I am trying to purchase. I just want to find a lender and get pre-qualified so that when I do get a deal that I want to pounce on, all my ducks are already in a row. 

I live in Martinsville, VA and will be buying in Martinsville and Collinsville. I do not have any deals under my belt myself, but for what it's worth, I have been mentored by a very successful flipper in my area and have completely shadowed him for the past seven months on all of his deals start-to-finish. I also have spent time physically working with a reputable general contractor on rehabs he was doing for other investors to learn more about construction and the rehab process. My FICO is 650-675. I have just a little bit of my own cash that I can throw in a deal ($5,000-$8,000). I am primarily targeting single-family homes that can be purchased for around $50,000 that need light-moderate rehabs.

Please give me references to any good private and/or hard money lenders that, based off my situation and what I am looking for, may be good fits to try and do business with. 

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Ben Guttman
  • Specialist
  • Baltimore, MD
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Ben Guttman
  • Specialist
  • Baltimore, MD
Replied Dec 9 2019, 07:04

My buddy Zack Teichman is worth a call. 

https://pimlicogroup.com/

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Shera Gregory
  • Investor
  • Richmond, VA
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Shera Gregory
  • Investor
  • Richmond, VA
Replied Dec 9 2019, 07:25

You can also try Richmond Mortgage. They have a quick on-line application and you get feedback very quickly on whether they will lend on a particular deal and what the terms would be. This is deal-specific so you need to have a particular address in mind when you apply.

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Samuel Hopkins
  • Investor
  • Martinsville, VA
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Samuel Hopkins
  • Investor
  • Martinsville, VA
Replied Dec 9 2019, 14:27

@Ben Guttman Thanks, I’ll call him this week.

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Samuel Hopkins
  • Investor
  • Martinsville, VA
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Samuel Hopkins
  • Investor
  • Martinsville, VA
Replied Dec 9 2019, 14:28

@Shera Gregory Okay, got you. Will definitely keep them in mind for once I actually have a specific property that I want to purchase. Thanks.