Updated about 10 years ago on . Most recent reply
Hard Money Lending
Hi. I am a new member of biggerpockets.com, and I am trying to do my first rehab. I was wondering if I can get hard money lending even though I don't have any money available in my bank statement. I don't have a good credit score and good income. I really want to start my rehab because I can do many works by myself like painting and changing the carpet etc.,
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Jay Hinrichs
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Jay Hinrichs
#1 All Forums Contributor
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#1 All Forums Contributor
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- Summerlin, NV
highly doubtful.... you would need family to take on that risk would be my thought.
HML these days ( unless your very established repeat borrower) will want 20% of total cost in cash at close..
as a HML in the day.. even in the go go days I would not have done a deal like you described.
If you have skills find the money partner.. get expreince build up your track record then you can branch out.
- Jay Hinrichs
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JLH Capital Partners