Tyler PiciulloPoster#3 Goals, Business Plans & Entities Contributor
- Real Estate Agent
- Fort Lauderdale, FL
- Votes |
Need Clarification...Can you do this? HML & MONEY
Let's say I found a deal. Hard Money Lender is requesting 20% down and will finance 80% of purchase price and 100% of the rehab. When it comes to the 20%, I heard that the HML wants to always stay in the first position and pretty much would like to be the only lien on the property. If I were to raise the 20% from friends & family with promissory notes guaranteed by the LLC is this possible?