Experienced traditional investor. Used personal money and traditional loans for years. Have an unemcumbered multifamily held in LLC desirable location. Not ready to sell. Need to paint landscape to get top dollar. Bridge, portfolio,hard money please share wisdom.
Lender · Winlock, WA · Member since 2013 · 1k+ posts · 1k+ votes
6y
Define multi? 1-4 or 5 plus? It will make a difference as to the type of loan you are looking for? I would always go with the loan that gives you the best terms, so generally that would leave a bridge and hard money out. With the details as to how many units, I can better make recommendations? Also, how fast do you need or want the money? Do you have time to close a conventional loan (30-45 days) or do you need it faster?
If it is residential, maybe a HELOC would work best, assuming you can get it depending on the number of units?
Kevin good evening thank you so much for the reply. 7 units, 1.1m in value (conservative) looking to close in 30-45 days; I don’t think I would qualify for a “traditional/conventional” loan...credit and taxes.