Updated almost 3 years ago on . Most recent reply
3 deals, new to investing! Help! How do I find them?
New to the investing part of real estate! My one private money lender that I have so far is unavailable and I have 3 great deals right in front of me. What do you all think? Should I attempt get hard money loans? Would they even fund 3 properties at once and the rehab if it’s good deals?
Most Popular Reply
@Miranda Jacko, it all depends on how the deals pencil out and the underwriting criteria of the hard money lender. What may look like a great deal right in front of you may have a bunch of hidden defects that'll eat into your rehab budget. Moreover, how reliable are your contractors and how frequently do you toss them business? Hard money is a time-sensitive loan product, needless to say, it's vital to run your numbers religiously and have the correct systems in place. Most hard money loan products finance 90% of the purchase and 100% of the rehab depending on the deal itself and prior experience. I can connect you to several hard money lenders via email if these are indeed great deals. Let me know.