Posted by Bill on June 22, 2004 at 11:00:06:
It all depends on the cost of the acquisition and the rehab and how quickly you need the money.
You say you have good credit well then let’s go conventional.
Looking for ‘softer’ hard money. - Posted by IB (NJ)
Posted by IB (NJ) on June 06, 2004 at 23:46:58:
Hi all:
I’m looking for ‘softer’ hard money out there for a 12 unit apartment building I’m looking to acquire. Half the building is occupied and generating income while the other half is in need of a complete rehab (actually it’s two separate buildings but considered one property on the deed and tax map). Anyone know of a reasonable hard money lender out there? We’re experienced (in the biz for 4 years), have good credit, and are just looking for easier terms than what we’re being quoted here in the north east (14% int. only +4 pts.)
You can reach me at eeb88@yahoo.com - Thx.
Re: Looking for ‘softer’ hard money. - Posted by JAF
Posted by JAF on June 22, 2004 at 04:42:38:
Try checking Pennsylvania mortgage lenders and mortgage brokers to private lenders. They have relatively much lower rates.
Not as much demand on the money in that state.