Hard money loans. The concept of the title is actually a bridging loan of about a year ...
Hard money loans.
The concept in the title is basically a bridging loan of about a year, which aims to assist in Fix & flip transactions and, alternatively, in holding transactions towards Refinance. As everyone knows, when there is a good deal on the shelf, many investors will storm the deal and the seller will close with the first one to lay down the cash. Therefore, despite the high price of this type of loan (usually 12 + 2 that is, twelve percent annual interest and two percent cost of setting up the credit line).
1. Should the investor ask himself before taking a hard money loan, is it better to take a regular mortgage?
2. What is his exit strategy? Exits after the flip? Repai after renovation and populating ???
3. Is it possible to get a loan from the bank at a lower interest rate without losing the deal?
4. How long will it take for the bank to approve the credit limit for the speed of receiving the credit as part of a bridging loan?
Link to the original post in the United States Real Estate Forum on Facebook - Works on a desktop computer (To view the post must be members approved for the forum):
http://bit.ly/2NohPHu
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Thank you very much
Feel free to read my post on hard money in the study units as well…
Something on the side ..
Often there are other costs besides interest and points.
What matters is the overall picture ..
Regarding mortgages and loans..it is not open everywhere and should make sure it is possible for those who are not local residents….
Also, the Hard Mani for the absolute rabbi is suitable for the Flips and not for the Rantal
Everything you wrote about go
The bank has to receive lower interest rates that are not relevant to Israelis who do not have an SSN. I'd love to know if I'm missing something
cannon!!!!!