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Updated 4 months ago on . Most recent reply

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26
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17
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Ofir R.
17
Votes |
26
Posts

Known strategy to find a (very) quick loan?

Ofir R.
Posted

Hi, we are working on making a purchase of a multi-purpose property. We want to leverage one of our rental properties and refinance it with a DSCR loan. Since finalising the loan will take 30 days (and there are the holidays...) and we need to close the deal sooner, we are looking for a very quick lending option of 30K, which we will return in less than 60 days.

Except for calling our friends and asking for favours, do you have another idea for lending such a sum in a few days (up to a week)? 

This is still theoretical - asking a general idea. When the time comes, I will provide documentation and game plan.

Thank for your friendly advice!

Most Popular Reply

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219
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119
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Elias Halvorson
  • Hawaii
119
Votes |
219
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Elias Halvorson
  • Hawaii
Replied
Quote from @Ofir R.:

Hi, we are working on making a purchase of a multi-purpose property. We want to leverage one of our rental properties and refinance it with a DSCR loan. Since finalising the loan will take 30 days (and there are the holidays...) and we need to close the deal sooner, we are looking for a very quick lending option of 30K, which we will return in less than 60 days.

Except for calling our friends and asking for favours, do you have another idea for lending such a sum in a few days (up to a week)? 

This is still theoretical - asking a general idea. When the time comes, I will provide documentation and game plan.

Thank for your friendly advice!


 Personal loan. You may have to sign something stating you arent using it for real estate - but they typically dont check anything. You can use it for "debt consolidation" or something. 

  • Elias Halvorson
  • 808-517-6416
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Elias Halvorson C2 Hawaii NMLS#1697041HI Branch NMLS#1244222
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