Real Estate Investing Forums

Real Estate Investing => Financing, Hard Money Lenders, Private Money => Topic started by: deal maker on November 21, 2006, 11:02:24 am

Title: Hard money/ SUB2 deals
Post by: deal maker on November 21, 2006, 11:02:24 am
Just had a questions for you guys. Have you ever heard of anyone getting a small HML? Like when buying sub2, for sellers moving expenses, maybe equity, closing costs and repair money? Just wondering, thanks for your imput.

Deal maker.
Title: Re:Hard money/ SUB2 deals
Post by: wealthrx on November 23, 2006, 02:42:05 am
Good question, I am also looking for a Hard lender that will take a 2nd lien position for
some of the issues you suggested.

Normally a HML will cover the following aspects of a particular transaction.
1.) Money to buy home
2.)Money to fix up
3.)Closing costs (in some cases).

Let me know what you can find out regarding HML and 2nd Lien.
Title: Re:Hard money/ SUB2 deals
Post by: deal maker on November 29, 2006, 07:39:00 am
Anyone heard of HML doing just money for fix up, and other misc expenses, not whole project or purchas cost? Just wondering

Thanks
Title: Re:Hard money/ SUB2 deals
Post by: wealthrx on November 29, 2006, 08:36:01 am
Anyone heard of HML doing just money for fix up, and other misc expenses, not whole project or purchas cost? Just wondering
Thanks

I am looking for the same thing
Title: Re:Hard money/ SUB2 deals
Post by: markoarko on December 01, 2006, 10:19:06 pm


Because so many of us seek this sort of product, and because we each think its not that risky of a loan (or else we may not seek it), maybe there would be more successful investors to pool together and try a few of these, to see if its a viable product.

If it is, and we can simply model it, a mainstream lender may pick it up.

1) Since its a loan to an LLC, we could charge a stiff rate
2) Since its in our field we would have insite into the risk aspect
3)Since its something many of us could benefit from if it were successful, we could mutually try to help it succeed

Id consider throwing 10-25 into a hat (a well thought out and legally monitored hat that is) if we could put together 5-10 others that would take on the same risk and or responsibility of floating an idea like this


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