Updated almost 11 years ago on . Most recent reply
Hard money loan advice
I'm a new investor in the Philadelphia area. J am thinking about applying for a HML. I am looking to get a loan (purchase and rehab) for around 75k. The ARV is approx. 129k, my question is what is an conservative estimate of cash on hand that a lender would like me to bring to the table? I also have a rental property that I have a mortgage on, with about 30k in equity. Could I use this property in the deal?
Thanks for any and all advice!
Most Popular Reply
I agree at those numbers you shouldn't have problem lining up financing.