Updated about 10 years ago on . Most recent reply
12 month Private Loan
I need some advice... I would like to buy and hold rentals. I have enough cash to buy the home and fix it up with some cash to spare. I was wanting to refi once I get a renter in and repeat the process but I have just found out that the banks will only refi on purchase price. I would have to wait 12 months before they would refi on actual value. I really don't want to tie my cash up for 12 months. Are there any private lenders that would lend to a investor for 12 months? I have excellent credit and strong income. I would like to purchase around 4 homes per year. Any advice would be greatly appreciated... Thanks Glenn