2nd Lien Position for Down Payment on Hard Money Loans
Hi BP community,
I am wondering how many of you are able to structure the 2nd lien position from Private Money Lending used to pay for the down payment on a Hard Money Lending Loan.
Do all HM Lenders allow this?
If not, which ones are you aware of that do?
How is it structured? Specific language used in Contract? Can anyone provide an example?
I see many people on the internet that claim they do this. Part of the whole "Invest with none of your own money" series of videos. I'm sure this is something that can be done, but is it more of a hurdle and rarity to have this be a realistic investment strategy or can this be done from the beginning of the investment journey?
Thank you,
Justin