$375k at 70% is $262,500 only leaves $7,500 for rehab. - Not a “safe” loan in my opinion. It probably has $35-50k in rehab but would need more info and pics to see.
Hey! Steven here, I’m excited to start learn some of the lending side. As I’m taking a little time to get this app and look over things. I do have a question. If you were starting over today with limited capital, what would be the first lending deal you’d pursue—and why?
I agree. Safety should always be #1, especially with other people’s money. Right now I’d be less focused on pushing yield and more on protecting capital, so something in the 8–10% range with conservative LTV and strong collateral feels right to me.