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Author Topic: FInancing litmus test  (Read 1126 times)

Offline Herman

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FInancing litmus test
« on: March 26, 2008, 04:45:36 pm »
All - I'm an investor in Chicago . I started moving to private lending funds back in 4th quarter 2007 because I could see some of what was happening in the market.

I'm looking at some larger deals (rehab - 3 to 6 month turnaround) now that are going to require more financing than my private lenders can bankroll and wanted to get a sense of what others are seeing out there for hard money or rehab lenders.

I know every local market is different but what are you seeing out there? Is it tough to get financing, are you having to be creative or are there still some lenders out there that work with deals that make sense but aren't going to make you sign over your life to them?

Offline stevie-o

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Re: FInancing litmus test
« Reply #1 on: March 26, 2008, 04:57:14 pm »
There are still HML's out there who will do 100% and roll in all the costs, etc. But they are many times looking for several months worth of reserves, and you will also have to fund the first phase of rehab as they fund in arrears (after the phase is completed).

 




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