The #s are not all that attractive on this deal. Most HML will be around 65-70% of the after repaired value. They’ll take the points and sometimes the first 6 months directly out of the loan upfront.
There are a hanful of questions to be addressed which I can email you tomorrow.
I working on a deal:
4bdm, 2ba frame 1600sqft
sales price is 60K (REO)
I don’t know the appraisal value.
But houses in the area are selling for 145K (3bdm,1ba frame)
d.o.m. = 30 days
Needs 30K rehab.
What are some affective ways to attract hard money lenders?
Would a deal like this attract a hard money lenders?
How should I package a deal like this?
All comments are WELCOME!!!