All Forum Posts by: Ebony Blue
Ebony Blue has started 1 posts and replied 2 times.
Post: Using Hard Money to Rent & Hold (No Rehab) - Can this Work?
Ebony BluePosted
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@Adekunle Ilori This listing is on the MLS, I can get it under contract, but I dont have the downpayment to do a conventional loan. I don't know how to partner with an investor.
@Tchaka Owen I want to get out of the hard money loan in less than the 9 months. I don't know if the home would have the immediate equity of 30%, but I don't know how to tell if I am not making any change. Rents would be the following: 1600, 1400, 1300, 900
Post: Using Hard Money to Rent & Hold (No Rehab) - Can this Work?
Ebony BluePosted
- Posts 2
- Votes 0
As an investor, what do you do when you don't have enough money?
The one route that I have seen is hard money. Below are the details of the deal. How do I get in an out of this deal quickly and without messing myself over? Or how do I get the money quickly.
Property:
- Price: $315,000
- Size: 3 unit building (1 3br/2ba, 1 2br/2ba, 1 1br/1ba)
- Tenants: None
- Condition: Rehabbed (NO WORK NEEDED)
- DSCR:1.64
Hard Money Loan Offer:
- Down Payment: 15%
- Interest Rate: 12%
- Length of loan: 9 months