Finding $$$ for next deal

Financing, Hard Money Lenders, Private Money
1

Hello Forum,

I’m trying to find funding for my next rehab project.

Currently, I have a mortgage loan on my first rehab project and have started looking for $$$ to fund my next. How can I get funding for my next deal?
thanx.

2

do you live in your rehab project?

3

Have you looked into hard money lenders in your area. They are easier loans, just more expensive.

4

Assuming that your DTI can weather it, there are several conventional loan programs that you could consider that allow an investor to finance multiple properties.

As another poster has already indicated, there is always hard money if you don’t want to be bothered with the “red tape”.

Regards,

Scott Miller

5

No, property is vacant.

6

I tried using HML w/ my first property and found it more complicated to getting the funds than using the bank.
What seemed to really make the difference is the mortgage broker used w/ my first deal was very effective at matching my financial/investment situation w/ the right loan program and bank.
Thanks for all the feedback.

7

Then you know your answer…Go back to the mortgage broker or a equally experienced alternative.

I quite surprised to hear of your experiences with hard money, as they are usually considered the easiest money to borrow.

Regards,

Scott Miller

8

j,

yeah, i’m surprised as well. what was your experience finding HM?