Need help find 55% LTV for Illinois rehab

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Posted by Nick R on October 28, 2009 at 19:47:32:

I am looking for a lender that will lend on a property in the Chicago area. I am wholesaling the property and have found a buyer but he does not have the funds to complete the deal. If I can find him a lender then I can sell my wholesale and hopefully we can both have a long term relationship with this buyer.

The numbers for this deal are great and are as follows.

ARV - $140,000 - Comps are all recent sales that support this value.
Repairs - $45,000
Selling price - $20,000

If anyone here lends in the Chicago area or knows anyone that does, or even wants to just offer advice on how to get my buyer funded I would love to here from you. Thanks

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