Hey every one!
Just wondering if anyone in the upstate NY area has ever used a hard money lender and what your experience was?
Would anyone recommend this strategy for a first time buyer if we're looking to buy & hold rental properties?
All advice on this is welcome!
What's your strategy on paying the Lender back?
Hey @Lauren Minkoff , I'm a newbie but think hard money lenders are best suited for flips and BRRRR deals as they typically want to get their money back out to lend it to someone else, either through the sale or a refi. I'm looking for a private lender or seller finance for a buy & hold res-multi and hope to find either in short order. Will let you know what Iearn that may help you. Best of luck!
Hello @Lauren Minkoff I am a commercial loan broker in the NY area and you can use a portfolio lender for buy and hold properties. They typically come in less than a hard money lender but more than a conventional lender. Feel free to pm me with any questions
Hi Lauren ,
Good luck on finding a HML . If you private msg me I had a few my clients are working with.
If you have any building codes questions shoot them my way especially if they pertain to the Albany area. I have been Albanys building inspector for 5 years and don't mind helping people out.
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