100% 568 FICO
I am looking at putting a contract on a house tomorrow.
FMV-176k
Purchase Price-85k
Rehab-20k
If anyone is interested in this type I am in North Carolina. I am will to share in the profits if anyone is willing to lend the money. Last property appraisal as is where is 130k.
Jim
What experience do you have with rehabbing?
Also, you may think about bringing in a partner as another option.
This will be my first rehab project. It is a very simple one, however. There aren't many people here in my area that would be willing to be a partner and the ones that are I haven't been able to find!
As of today I was told about a consulting firm that handles every aspect of the deal, to include financing, title, ect... They charge $1800 dollars upfront but they all but guaranty appoval. I am curious if anyone has ever used a consulting company like this.
Jim
I think your first step this figuring out if you want a partner or a hard money lender. Once you figure that out, actively pursue whom ever with a written plan. Show them you've done your homework and you should have no problem finding someone.
depending on WHEN you can turn this property, it seems this would be prime for a HML..the points involved and the interest on a HML compared to a 50/50 equity split private money investor should make the decision for ya..good luck either way..regards-pat
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