Hard Money with Equity Instead of Cash?
Is anyone aware of any Hard Money Lenders that would lend on the equity in a property? Essentially they would create a lien on the property for the 10-15% most HML require? This would be a seperate property from the property being purchased and rehabed. I am not sure if I heard this could be done or if I dreamt about it. I am in Colorado so my property has a large equity amount but I can't access it without refinancing which I don't want to do, I would like to use a small portion of the equity I have in my property to use HM to get another property. Thanks in advance for any insight.