Need a 10k Hard money loan for property purchase. Not sure how this works, but idea is 10k for 12 months, no more then 18 months 12% interest only payments. This is just to hold me over till I can get a conventional loan. Any ideas as to where to turn for this low of an amount?
I would definitely use a private investor…easy, no qualifying, and quick closing. I’ve done this for 25 years successfully. There are endless number of people who have money and want to be involved in real estate but do not have the knowledge or time…just start offering 12% money and see what happens. Someone will step up if they have confidence in you and your abilities.
Hope this helps.
Rob