All Forum Posts by: John Cameron
John Cameron has started 1 posts and replied 2 times.
Post: Manufactured Home Construction FInancing - WA State

- Investor
- Seattle, WA
- Posts 39
- Votes 8
I have a small builder who is very experienced with Manu Home and Land Development. Up until now he has been using and equity share partner who is taking 60% of net. I told him that is probably WAY too much.
He is looking to borrow construction $200K for his project. He owns the land. The best we've been quoted is 80%LTV including land value, 4points and 12%/yr.
Can anyone do better?
Post: Can Someone Explain Hard Money

- Investor
- Seattle, WA
- Posts 39
- Votes 8
Hard money is secured by a "hard" asset. It's easy to get. Ironic.
Usually 2% origination, 12% per annum, paid in interest only payments at 1%/month. You borrow $200K you pay $2000/month shorter term usually 4-6 month. Hard Money Lender = HML if you see that around.
Rates and fees vary of course and they go down as well as LTV as your experience and relationship with the hard money grows.