Hard Money Lenders and Banks
Hello,
I am currently looking for a new multifamily investment and was wondering if banks know about the money hard money lenders lend to you? In other words, if a hard money lender gives me 25k to finance portion of the down payment, am i required to disclose this information?
I am asking because I am trying to purchase a 10 unit, but finance portion of the down payment with other people's money and pay the financed portion back as soon as I close on the loan with my LOC.
Thanks in advance.
Chris Morales