Orlando, FL · Member since 2014 · 60 posts · 25 votes
i am looking at making my first buy and hold in a condo in Orlando the bank is requiring 20% down however I can only come up with 10%. Does anyone know a hard money lender that can finance the other 10% on a short term loan?
Wholesaler · Holiday, FL · Member since 2013 · 571 posts · 221 votes
11y
You can try contacting Jim. [email protected] He's from near Clearwater but maybe you're in his radius? I have had only limited dealings with him so far - but all have been positive.
i am looking at making my first buy and hold in a condo in Orlando the bank is requiring 20% down however I can only come up with 10%. Does anyone know a hard money lender that can finance the other 10% on a short term loan?
Investor · Oldsmar, FL · Member since 2013 · 19 posts · 1 vote
11y
Hey, I'm new to this but I'm curious how this would work. Wouldn't a HML want to be in first position on the property since they are basically only lending on it's value? Wouldn't this conflict with the bank obviously being in first position in this situation? I'm don't understand why a HML would be willing to put themselves in a position behind a bank. Maybe I am missing something.
Investor · Orlando, FL · Member since 2016 · 17 posts · 3 votes
9y
Zamir Kazi hi Zamir! Just saw your post, are you still into hard money lending? I have a deal I am trying to finance and I would love to talk to you about it.