There seems to be a lot of moving parts in regards to information that is out there. I was hoping someone could clarify options or lack there of.
I have an fixNflip that was just completed last month in downtown Northville - a very hot area. This property was financed through hard money and is extremely expensive. Making matters worse in these challenging times we are not able to hold open houses or get traffic to the house for showings. What would be very helpful is a low interest loan or perharps some relief in terms of holding costs. Does anyone know options that are available or something that State is doing to supports small businesses in a situation like this.
Hope everyone is doing ok.
no. not now, not ever. the state/gov and the general public think of investors as scammers/leeches and they will never help the "leeches". it's not the popular thing to do.
what's your current rate with the HML?
call your hard money guy and talk to him. i am sure he'll understand given the current situation