Updated over 2 years ago on . Most recent reply
Looking to do my first rehab
Looking to do my first rehab and got a quote. I'm estimating about $20-$25k in rehab costs for a property acquired at $95k for an ARV at $150k. Hard money lender is offering a 12% interest rate and a total loan amount of $104k (purchase + rehab). Loan origination costs and down payment is 3% in points, 1% of loan amount, 1 month payment, and down payment for a total of $32k to close. Thoughts?