Should I get a Bridge Loan?
I'm in the process of selling a multifamily home and buying a piece of land at the same time. The profit I make on the home sale will cover the land cost ($227,500). But of course, the closing will most likely not line up. I have the option of getting a land loan from a local bank here in Massachusetts but don't want to do that if I only need this money for a short time (1-2 months).
Who here has worked with Private Money lenders? What would you recommend I do in this case? Are there private money lenders you would recommend?
Thanks so much for the help!