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Author Topic: need hardmoney based on equity  (Read 2565 times)

Offline luckyone

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need hardmoney based on equity
« on: September 09, 2006, 12:22:08 pm »
Looking for hard money lender or private lender to purchase 2 foreclosures.  These can be purchased at a good price.  Need money for 2 purchases not based on credit but equity and property.  Need repair funds along with purchase funds.  Anybody know of lenders that do this without alot of money to come to the closing table?

Offline starke

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    • 1031 exchange real estate 1031 tax exchange NNN property
Re:need hardmoney based on equity
« Reply #1 on: September 09, 2006, 01:03:11 pm »
Not as much my flair, but if the equity is there... how about trying the JV route... use their money and share in the profits post renovation.

Most hard money lending I've seen is 65-70%...
(I was 1031store... starke is my last name)  Find 1031 tax exchange real estate NNN property for sale nationwide.  In the industry?  Join free, and create a expert profile to help exchange investors find you.

Offline Mortgage Mark

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Re:need hardmoney based on equity
« Reply #2 on: September 11, 2006, 12:59:47 pm »
where are the properties at and how much are you looking to put down at closing (please don't say nothing).  If you have about 10-20% or the purchase price and your ARV LTV is below 65% you should be in good shape
Mark Forsyth
Sterling Mortgage Group
[email protected]
916-760-8834

 




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