Commercial Hard Money Loans.. Has anyone used them??
Looking to see if anyone has used bridge or commercial hard money for turn around properties and what was your experience start to finish??
I am planning on going after a few retail centers at Auction that look good. Some commercial HML lenders are talking about 65% ltv's. I am wondering if they are talking current value or ARV values once stabilized??
Please no point takers or others soliciting on this forum. I want to hear from investors who have taken such an approach and positives and negatives. Goal is to refi out within a year on a 75% regular loan and get down payment back and then some.
I guess I could use a private money loan for someone who wants to stay passive. My only reservations about that is they take along time to act and close to fund the loan. So even though they might be 1or 2% cheaper on the note rate the time to act can be a killer to landing these deals.
