Arizona Hard Money Advice
Hi all,
New investor looking to purchase a second property as part of BRRRR. The property is a beat up manufactured home, but location and potential purchase price are drawing me to it. Due to the property's current state, I am not expecting to qualify for conventional off the bat. The plan we are looking at is to use HML for initial purchase, fix up within ~3 months, and then refi into a conventional loan. Purchase price we are looking at is $200-250k.
Curious if anyone can recommend local HMLs they have had good experiences with? Any details on down payment requirements or other details from your past deal(s) are appreciated.
Additionally, if anyone sees a flaw with this mentality, please let me know. Inexperienced and open to all advice.
Thank you,
Nathan