Hard Money Lender For a Rental?
Hello Everybody
I been putting together a deal and the numbers are good at least for what I see but because the situation of the seller I have to move more fast than the conventional way with cash that I don't have right now so I was thinking in use a hard money lender for the purchase and then refinance the deal to long term
what do you think about it? I'll be more than grateful to see your respond and thanks for take the time for it
Most Popular Reply
Amauris,
Yes... it's the BRRRR strategy. Make sure that you price the HML for the entire term (usually one year) in your analysis. Also, make sure that you have everything nailed down as much as possible. When using a HML, the fewer surprises the better.
Hope that helps.
Good luck,
Jim