Need Hard Money - Mixed use (will be converted all resi)
Hi everyone, we are in search of a hard money lender who could finance the project of a building that is currently two units, one residential, one small commercial store front. It will be converted to a Residential post acquisition. 225k, ARV 400+ with heavy reno. We are finding that this is quite difficult space for money lenders, including hard money.
Allentown PA Market
Please DM or email me if you know of someone who can do this.
Thanks!
- Matthew Morrow
- [email protected]
- 484-791-6200
CORE Team | Realty ONE Group Supreme
47 Reviews
5.0 stars
Looking for
Allentown, Pennsylvania
Most Popular Reply
Typically our lending partners programs are as follows:
- Rates: 10% to 14% (Most Deals are 12%)
- Terms: 1 Day - 24 Months (Most Deals are 6 months)
- Fees: 2-5 points(%) of loan amount paid at closing (Most Deals are 3 points(%))
- Minimum Loan Amount: $50,000 (For loans less than $200,000 we charge $2,000 up front before working the file)
- Max Loan: 65-70% of After Repair Value(ARV)
- 100% Rehab Financing Available (Most Deals require 20% of purchase price down payment or cross-collateral)
- Closing Timeframe: 48 Hours - 3 Weeks (Most Deals are 10 business days)
- We have private lending partners throughout the entire United States that cover the following states: AL, AZ, AR, CA, CO, CT, DE, FL, GA, HI, IL, IN, IA, KS, KY, LA, ME, MD, MA, MI, MN, MS, MO, MT, NE, NV, NH, NJ, NM, NY, NC, OH, OK, OR, PA, RI, TN, TX, UT, VT, VA, WA, WV, WI, WY.
- NO PRIMARY RESIDENCES, NON-OWNER OCCUPIED ONLY, BUSINESS AND COMMERCIAL USE ONLY.