Financing 11 cash flowing properties in 12550
Appreciate andy feedback. I have 8 hard money loans originated in the last 90 days. The properties are cash flowing. Im doing a bit of work but nothing structural and it should be complete before loan closing.
So I’m looking to begin moving this into a loan. I approached a local Bank and they offered and LOI looking for 8 separate loans. They’re looking for 500. Good faith deposit for each loan. Refundable under certain conditions. Is this standard?
I was looking for a portfolio loan. Anyone Dealt with this before?