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Updated over 7 years ago on . Most recent reply

Petr Stuchlik's profile image
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Petr Stuchlik
  • from Westborough, MA
  • Member since Mar 2, 2016
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Petr Stuchlik's profile image
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Petr Stuchlik
  • from Westborough, MA
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Petr Stuchlik
  • Westborough, MA
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Private Lending & Conventional Mortgage Advice

Refinancing from Hard Money

Petr Stuchlik
  • Westborough, MA
Posted

Hi community!

What is the best way to re-finance from Hard Money? It seems like we will be stuck holding a flip over the winter and it would kill our numbers if we continue paying hard money all that time. Any suggestions?

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Nghi Le's profile image
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Nghi Le
  • Investor / Lender
  • from Seattle, WA
  • Member since Jun 28, 2014
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Nghi Le
  • Investor / Lender
  • from Seattle, WA
  • Member since Jun 28, 2014
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Nghi Le
  • Investor / Lender
  • Seattle, WA
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Nghi Le
  • Investor / Lender
  • Seattle, WA
Replied

@Petr Stuchlik

What's the price point on it?  Are you holding it because it's hard to sell during the winter?  How long do you think you'll need for the sale?

If your hard money term isn't up yet, it's probably cheaper to stay with hard money until you sell (vs getting into a new hard money loan) if you have a long-term enough.

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