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Updated almost 8 years ago on . Most recent reply

User Stats

38
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9
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Neil Hohmann
  • Rental Property Investor
  • United States
9
Votes |
38
Posts

Seeking hard money lender for cash offer in Denver

Neil Hohmann
  • Rental Property Investor
  • United States
Posted

My wife and I are currently searching for a hard money lender in order to make a $650,00 cash offer on a fourplex in Denver. 

We have approximately $500,000 in equity in 3 rental properties ($300,000 in 2 condos in Denver & $200,000 in a SFR in D.C.). Great credit score (mid 800s) and a solid W2. We want to offer cash to make our offer stand out and allow for a fast closing. We're able to pull together the 25% down, but it may take a few weeks or a month for the processing of a HELOC, etc. We also have an additional $85,000 in Roth IRA contributions we can use.

Can anyone point us towards some leads? Anything we should consider before going forward? (Will it be hard to refi in a year?) This would be our first hard-money experience. Thank you in advance!

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