First Time Investor, Out of State, Under $75,000 - Cant Find Lender
I have a deal that I am in contract on and the lender I thought I was going to use backed out.
It seems for the criteria of, First Time Investor, Out of State, Under $75,000 for purchase and rehab combined, is difficult to find a lender on.
This deal is in Alabama. Its a 60k purchase 10k rehab the ARV is around 100k+.
Looking for a short term had money loan for purchase and rehab or just purchase. I don't mind paying rehab out of pocket.
Any recommendations for a lender for this type of deal?
Thank You
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#2 Out of State Investing Contributor
- Flipper/Rehabber
- Pittsburgh
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#2 Out of State Investing Contributor
- Flipper/Rehabber
- Pittsburgh
no offense intended, but 60K purchase 10K rehab seems... at a minimum very high risk, and potentially... unlikely. 10K doesn't go very far these days.
do you have a robust team or network there? where are you located?
i know this wasn't your question, but we see new investors buy in challenging areas to start, and very often things don't meet their expectations... so trying to help if I can.