Thinking about using a HML on a townhome for 1st deal !!!
Hey guys, I been pretty much locked in getting my first rental (Duplex) using FHA loan for the longest now. But as I'm getting better with analyzing deals and seeing real good deals I want to pull the trigger on. I'm leaning on using a Hard Money Loan to starting getting this show on the road. I been saving money for my down payment; but I really cant see my self passing on another deal that I feel like can benefit me well. Even if we have to lean towards doing the no money down with a HML to get this first property going.
Second I seen this nice Town House , for a decent price. Fully renovated ! And if the numbers come out right I want to present it to a HML to hopefully get the funding for it, Even though it would be my first deal, I'm aware of some of the pros & cons with getting a hard money lender as well.