Found the next deal how to finance

[Brad Tamm]

So I found my next deal, it's a SFR in a up coming neigborhood in miami. The home is listed at 80 k and needs 40k in renovation. The home is not financable through a bank due to a missing kitchen and toilets. Arv is 280+ based on comps. I have the Reno money but not enough to complete the purchase. Any ideas on how to make my deal happen. The plan was to Reno and then cash out refi to pay off the lender . I'm open to what ever suggestions you guys have.

[Curt Davis]

Find a private lender who will finance your purchase, closing, taxes and insurance.  You will most likely have to pay a loan origination fee and monthly interest only until you refi out.  

This is how I would structure the deal.  If the numbers are as good as you say, there should not be a problem with finding a loan as to know if I was lending you the money and your funding your own rehab, I would have an $80k first position lien on a $240k home. 

Good luck