Hard Money Lenders -- Reserves Needed
Good day!
I'm working on putting together a plan/system for moving forward with either a wholesale or BRRRR/fix&flip. With hard money lenders/private lending, it's seeming like I'll need to make interest-only payments in many cases and be able to present documentation that i have the reserves to make interest only payments.
From what I've read so far, I'd need to be able to document 6 months of reserves.
Other than reaching out to lenders to find exact requirements, are there any strategies/thoughts on this?
Thank you!