Hi folks, I am currently attempting to move to contract on a flip in the Austin area. While I don't normally flip this one is too good to pass up. 400k, minor repairs, ARV of 700k. I may be looking for a hard money lender on this one and would like to work with someone who is based in Austin TX - I am an active investor and would like to develop a relationship. Let me know if you are interested.
Good luck Carl! I can pass on some out of state options, but I have yet to find a great one in Austin. I'm following your post since I could do with one myself!
@Carl Dieckmann I have some great ones if you need them!
I’d buy something like this in a heart beat ;-) so make sure you secure that puppy ASAP.
One of the most active local lenders is HouseMax. I’ve done multiple loans with them, they’re reliable. Your rates/terms will in general be based on credit and experience, but they have some of the better rates/terms for rehabs. Be prepared for at least 10% cash down on a purchase + some lender fees/closing costs/title policy, etc.
Below are a few good starting points with regards to your lender search…
The ‘Network’ tab on BiggerPockets has a hard money lenders tab, and you can search by state.
Speaking with local realtors
Speaking with title companies
Speaking with other experienced investors in your area can be helpful. If they've had a good experience with a lender, then chances are you are setting yourself up for success down the road.
Online search/databases. Simply by searching online you can find a number of quality reputable national lenders. If you want to get more specific, then you can type in your location, e.g. 'Austin' along with your fix & flip lender search query. 'Austin fix & flip lender' would be a reasonable starting point.
Hope this helps,
Hey @Carl Dieckmann !
Would love to follow your journey. I, too, am an active investor in Austin.
Hey! I'm a local, direct hard money lender. Let me know if you still need help on this - happy to help.