Hi everyone- I am a BRRRR investor looking for a reputable HML in the Philly area. I currently use a private lender, but he'll only lend on the purchase, not the rehab. For the rehab I've been using a personal line of credit. I've read the countless horror stories here on BP regarding some HMLs and I'm trying to avoid those guys. What companies are you guys using?
Thanks for your help!
Hey @Matthew Gonglik I use Crowdcopia, they will fund a percentage of the purchase and the rehab. they are extremely down to earth and understand what goes into rehabbing a property. they are in Lansdowne if you're interested. Good luck!
You don't need a HML in the Philly area, you need one who can evaluate the market and Philly is a good market for HML because it's pretty hard to lose money right now unless you buy absurdly high or mismanage your flip or BRRRR.
@Matthew Gonglik My investors have had amazing experiences with iFundCities, Rehab Financial Group, and Spring Garden Lending. By amazing I mean very communicative, easy to work with, met deadlines, and stayed true to their loan terms. Stay away from Lima One (this goes for all cities)! If you need direct contacts for the companies I mentioned, send me a PM.
@Kirk Bazile cool! thanks for your response. I'll definitely check them out!
@Louise Cornell Thank you! I just sent you a message.
@Jonathan Greene Thanks for the info!
I’ve borrowed a lot from Crowdcopia in the past and they were great to work with
Check out Builders Trust Capital. We lend at 80% LTV and have other programs specifically for BRRRR. Fast and transparent. https://builderstrustcapital.c...