Posted by Jose/Tex on May 28, 2000 at 21:38:35:
From my experience; most hard money lenders will lend 60%LTV up to 70%LTV of the appraised value when purchased and/or of the appraised value when all repairs and upgrades are completed.
For start up investors they prefer to see some of the investors money in the project, however if they see that the project is excellent, they usually are willing to provide 100% financing. Enough funds to purchase and fix up the property, as long as 100% does not exceed their LTV requirements.
By the way, where in Texas are you located at?
Jose/Tex