OfflineI think I have found an amazing deal... I was speaking with a hard money lender and he just informed me that I will need 20% down on any loan I get from a hard money lender.... I have 0 down! Well let me give details on the deal:
Property Location: New London, CT
Estimated ARV(Zillow.com) $185,000
Purchase Price: 64,900
Estimated Cost of Repairs: $10,000
Total Amount Requested: $74,900
I want to purchase the property, rehab the property and refinance
It is a 4 family home, 3 units rent @ $850 monthly and 1 unit rent @ $600 monthly, Sellers are willing to complete rehab for 10k. Awesome deal... I think but no money to fund it! I thought hard/private money lenders would go off the deal and equity in the property??? Any ADVICE???
Set a goal to achieve something that is so big, so exhilarating that it excites you and scares you at the same time. It must be a goal that is so appealing, so much in line with your spiritual core that you can't get it out of your mind. If you do not get chills when you set a goal, you're not setting big enough goals." (BO Sundberg)
Vicky Diaz
Hi Vicky,
Try http://www.scotsmanguide.com/
George
http://gemcourt.weebly.com/
I checked out the site and found 2 hard money lenders in my state... I will call them in the morning and see what they say.
Set a goal to achieve something that is so big, so exhilarating that it excites you and scares you at the same time. It must be a goal that is so appealing, so much in line with your spiritual core that you can't get it out of your mind. If you do not get chills when you set a goal, you're not setting big enough goals." (BO Sundberg)
Vicky Diaz