Capital Region Lenders
Hi All,
I am a relative newbie who has lurked and researched for quite some time.
I have a potential lead for a fix-and-flip, but I am skeptical about financing. It is a single-family, unoccupied (owner recently passed away). I have walked the house and it is dated, but foundation and mold do not appear to be an issue (I would of course get an inspection, but just noting this for now). I know that most experienced investors say that money will find you if you have a deal, but I don't want to get caught off guard.
I am wondering what experience other flippers in the area have with lenders. I am wondering what LTV local lenders offer and if anyone has gone through Sunmark, SEFCU or any other credit union to get financing for a flip. I have a full-time job with enough cash for a 20% down-payment, assuming that the offer price I have in mind would be accepted by the seller.
Any help or guidance would be much appreciated.
Thanks!
-Dylan