I'm getting a plan together for my first rehab property and don't have the down. If I take a hard money loan what is the best way to go about getting the other 25%? Besides borrowing from friends and family. I have read about investing without using my own money so would I need a private lender to finance the whole deal?
Any thoughts would help. Thank you.
I thought about taking out a loan first before I finance the deal but not sure if that's a good or bad idea. Partner , sure.
You wouldn't need 25% on a fix and flip with a hard money lender it would be more like 10% to 15% of total costs
Most HML will provide up to 90% LTC on deals not to exceed 75% of the ARV
@Paul Carissimi I think you would be better off to find a partner in this type of the deal when you have no ability to put money down yourself.
Thanks for the input Dan. I'm thinking of bringing in a partner.
@Paul Carissimi how’s the deal going if I may ask?
Need a deal!