Cleveland, OH · Member since 2016 · 1 post · 0 votes
I'm a newbie to investing & Im not interested in the normal fix & flip or wholesale of SFRs. Rather I'm into buying & holding commercial property. I've identified a 10 unit property with 100% occupancy & the opportunity to increase rents to market rate as well as in place management. Just wanted to know if any of you fellow members who know of any hard money lenders that offer up to 90% LTV for purchase & who focus on the asset itself w/ out having to give up an arm or leg as collateral.
Rental Property Investor · Chicago, IL · Member since 2015 · 352 posts · 281 votes
10y
Hard Money is usually short term only. Not ideal for buy & hold. Payback in 9 to 12 months. So even if you get a HML you are only kicking the can down the road about a year when you have to pay it back with the points. Sleepless nights scenario.
Rental Property Investor · Chicago, IL · Member since 2015 · 352 posts · 281 votes
10y
Hard Money is usually short term only. Not ideal for buy & hold. Payback in 9 to 12 months. So even if you get a HML you are only kicking the can down the road about a year when you have to pay it back with the points. Sleepless nights scenario.