refi with commercial lender

3 Replies

what is the process of getting out of a hard money loan after property is repaired ? How does it work and what is the process of moving from hard money loan to a fixed mortgage with LLC

If you can provide us with some more details such as property type, the renovations that were completed, if the property is cash flowing, etc we can provide some more direction.

i dont have the property as of now ,but im negotiating the property at 40000 it has six units that will cashflow around 700 per month ARV expected to be around 150000 to 200000. So if we recieved this property at our negotiated price and renovated within the 70 percent of the hard money lender which would be good for 9 -12 months .how do I or rather what would i need to do to secure long term funding from a commercial lender