I'm currently wholesaling homes, looking to smoothly transition to my own rehabs to create cash flow or flip and go on to the next deal, my credit is not great neither is my income I know most lenders do 80% of the over all price or 100% and you finish the rehab I'm just interested in how you started off and what is working in today's market! Thank you
I am not seeing those percentages. Those were from years and years ago. I am seeing maybe 65% ltv. Especially in states where the property takes longer to foreclose and get back from a defaulted borrower LTV is going to be less. This is because when the market drops and the HML lender takes awhile to get the property back they might break even at best. With great credit or income you might do better to look for a local partner who will take a risk on the property. National HML lenders I do not see them overcoming no money and no credit. One maybe but not both.