Grand Rapids, MI · Member since 2017 · 6 posts · 2 votes
I have some liquid funds that I would like to use for doing my first rehab in Grand Rapids,MI. I do own a rental property in the area so I am acquainted with the real estate market but this would be my first rehab. Ideally I would like to pay cash for a property but I do not have enough funds to cover both the property and rehab costs. I was considering using hard money to finance the property and my cash to cover rehab costs. Does any one have any suggestions or recommendations on financing for a first time rehab?
Attorney · Northbrook, IL · Member since 2017 · 719 posts · 549 votes
8y
There are lenders that work specifically with rehabbers. They will finance up to 80% purchase price and all of the rehab budget. I've done some closings with FundThatFlip and they can probably work with you.
Attorney · Northbrook, IL · Member since 2017 · 719 posts · 549 votes
8y
There are lenders that work specifically with rehabbers. They will finance up to 80% purchase price and all of the rehab budget. I've done some closings with FundThatFlip and they can probably work with you.
Rental Property Investor · Ventura, CA · Member since 2016 · 62 posts · 34 votes
8y
Try Groundfloor and zinc. I have worked with Groundfloor before but not zinc although I have heard good things (although their rates are higher). Shout if you need more options as I have a bunch of notes on this I can send as I’ve recently gone down this road myself and was new to it. Good luck!
Lender · New York, NY · Member since 2014 · 76 posts · 49 votes
8y
Hi @Ben E.. We'd love to help you out. Check out our site, simple application process and someone from our team will touch base with you quickly after application.