Construction loan ???
Hey BP family,
So I called a “for sale by owner sign” driving for dollars. The owner is an investor and is looking to unload a good portion of his properties. I am a new investor (little over whelmed) I did my research and ran my numbers and out of the five properties he gave me there is one that makes sense per county records he bought for $68,000 in 2011 in south Florida that is extremely unlikely in today’s market. Strongly believe he bought cash and owes nothing on it. If I offer owner financing can I get a construction loan thru a hard money lender or bank to cover repairs till I fix and flip it ? Thanks