Hard Money Option for Triplex
Hi everyone,
I am looking at a rare triplex available in a highly sought after neighborhood and want to make a move on it. I will not have enough for the down payment, and I have only invested using conventional loans. Naturally my next thought was a hard money loan for the cost of the home and the rehab needed. I would need a total of about $600K and would be able to put down 40K of my own. Is this possible? After repair value would be around $800K. If so, have any of you worked with any hard money lenders in TN that you recommend? Or have any other ideas of how to take this down? Thanks!
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