Hey BP! Whoa the craziest thing just happened. We closed on a house hacking property on Thursday and Friday we won the bid on a Hubzu.com online auction. We had been bidding and watching the property on Hubzu for a couple of months. We paused while under contract with the house hacking house. But since we closed on Thursday I thought we'd get back to bidding on the condo to flip. AND THEN they accepted our offer!! We will be seeking hard money. Do hard money lenders lend on condos? I have been calling HML all day but because it is the weekend I haven't been able to get a hold of anyone.
@Michelle Bright it is certainly possible for a HML to lend on a condo. If your condo is in Illinois then try posting that in the Illinois forum (or whatever state forum the property is in). You should get some good local responses there. Good luck!
I can't say that all do, but there definitely are ones that do. Just like banks it depends on their particular portfolio of products and programs
@Michelle Bright the condo you won on Hubzu was it the one on State Street? I tried bidding on it and jumped out as I felt the price went to high for a flip. I was going to pay cash. Is this the one?