Anyone know of a hard or private money lender that will work with newbies? I've been approved for convential financing and I found a deal on a 12 unit but the bank I'm using wogn't finance anything over 4 units. I have enough capital for the down payment just curious if a hard money lender would work with someone who is still trying to do their first deal.
For a 12 unit apartment building you'll have to use a commercial lender. Find a commercial lender who will lend you the money for the project.
Yes, you'll need commercial financing! Hard money is not good for long-term use, as it's really intended for the short term. Good luck! You also might want to think about incorporating and writing a small business plan to show commercial lenders that you are serious. Shirt and tie for an formal appointments.