All Forum Posts by: Ronald Ped

I appreciate your responses as you've provided highly relevant direct information in this thread.

JV was one of our alternative solutions.

Spot on, this is the information I'm curious on, if there is knowledge of lenders that allow second positions for purchase+rehab (gap funding). HMLs that I have asked so far are not open to the idea.

We've chatted with lawyers on alternative solutions aside from second positions. But second positions seemed like the most straight-forward so far in my mind.

We aren't in dire need for gap funding currently, but we've opened up the opportunity in our business plan to execute on our future goals. Which would be to scale into larger properties where we would need to start providing equity / fund raise our deals. So we wanted to start building relationships with PML in our smaller deals.

Hey folks, I'm curious if there are currently any lenders out there that are allowing second positions on deals?

The following is a list of some of our information. Please take a look and tell me whether you have a program we would qualify for:

• Portfolio: $2MM+
  
  • Experience rehabbing 15+ properties
    
  • Current rental properties 4-5
    
• Income: $400,000+
  
• Property Types We Specialize In: Single-Family Residences (SFR) - Multi-Family Homes (MFH)
  
• Location: Midwest
  
• Typical Loan Amount: $250,000 - $450,000
  
• Preferred Financing: 75+% ARV - purchase price & construction