Multi Unit Hard Money?

11 Replies

What is the current occupancy? If the property has less than 80% vacancy then hard money would be a good option. But if not then you should go and get conventional financing. 

Sounds like you might be able to just get a commercial loan on it with 20% down, assuming you can close in 45 days. Would be a lot cheaper than hard money (5-6% interest), and you'd be able to employ the BRRRR strategy if it doesn't have prepayment penalties. But you'd have to do the rehab all out of your own pocket.

@Aja Yasir . Typically 10-25 percent DP on hard money depending on ARV and investor experience/track record Definitely go the conventional route of commercial financing if you can, much cheaper

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