Updated about 7 years ago on . Most recent reply
HML for Down Payment on Commercial Property
Hello All,
I am currently in talks with an owner of a 12 Unit building and they are willing to sell for $460k. Currently fully retnted out taking $7500 a month. The units will need to be renovated and the rents can be raised.
My question is, is it possible to use a hard money loan to fund the 20% down payment? Looking to get the property under contract, renovate the units, and refinance to pay back the hard money loan.