Going on just alittle information and not knowing the property make it difficult to advise. However, being a property in Sun Prairie I would like you to contact Michelle Hahn at Bank of Sun Prairie. Michelle is VP of lending and ask her to consider your property as a "portfolio" product. You may have higher cost, i.e., rate, arm, etc. at least it will be completed. In addition, Abbey Wentland from Fairway Mortgage has away of working Miracles. Her number is 608 234-0689.
Tell either lady that I recommend please.
If you would like to contact me directly to discuss in more detail, I can give you better insight.......
The photos of your property are OK, but nothing really "pops." Maybe the refinished wood floors, but otherwise, while it looks good, there's nothing to "grab" people.
Another point: I don't know what the custom is in Ohio (and I know it varies geographically), but where I live the kitchen usually comes with appliances. If it doesn't in Ohio, OK. But if it's just that you took the pictures before the appliances arrived, then take new pictures with them in.
My sister and I are renovating a house, and we found some package deals on stainless steel appliances. GE refrigerator/freezer with ice maker, stove, microwave, and dishwasher for about $2,700 delivered. Those deals are online. (I know you've already lost money on the rehab. So you have to determine whether spending more is just "good money after bad" or whether it'd be a smart investment.)
Regarding financing, I'm guessing what you're running into is what homeowners run into when they try to sell, then decide to refinance. Lots of lenders don't allow that . . . but that's (from what I understand) primarily directed at owner-occupants. That's not your situation. Make sure the lenders understand the house is a flip, not one you lived in, tried to sell, and now want to refinance.
It's likely that at your local real estate investment club, you'll find lenders willing to work with you. Or at least investors who've been in the same situation and can advise you. Go to http://www.creonline.com and look for the link to the local real estate investment clubs. Contact them; attend some of their meetings.
Hope that helps.
I would need more information before answering your question. I just had a client get a pre approval after being told NO by several banks and credit unions. There is always the option to do a rent to own. There are also a lot of houses on the market in Sun Prairie and an average of 5 per day coming on the market. Please give me a call at 608-279-4247 if you are interested in my help. Evans Properties, LLC does a lot of rent ups. If you prefer you can e-mail me at email@example.com Have a great day and good luck!
The good news is that vacancy rates are the lowest in a long time and rents appear to be rising , depending on location. Good luck.