2nd Position Mortgage Lender

[Michalis Georgiades]

Hello,

My current private money lender is giving me 90% of purchase price and 100% of rehab cost on my deals.

I am looking for a lender to be able to cover the other 10% of the purchase price.

Can somebody help me out?

Regards,

Michael

[Devin Peterson]

Quote from @Michalis Georgiades:

Hello,

My current private money lender is giving me 90% of purchase price and 100% of rehab cost on my deals.

I am looking for a lender to be able to cover the other 10% of the purchase price.

Can somebody help me out?

Regards,

Michael

Hi Michalis, it sounds like you’re looking for a private money, lender, or an unsecured line of credit of some sort. Happy to connect with you if you have any questions.

[Ammabelle Canoy]

It can be difficult getting a lender in second position, but they do exist. Personally, in my line of work I would offer clients an unsecured loan to cover such expenses. These terms and qualifications are rigorous but when a client meets the qualification they win on the deals!

[Magnus Wikström]

Hi @Michalis Georgiades,

No one will take second position behind that leverage. We could potentially partner with you if it's an interesting deal, but otherwise we may be able to set up 100% financing, depending on location and numbers. Happy to connect.