Does anyone have details on hard money lenders that will take a 2nd lien position on sub 2 deals.
Standard hard money qualifications will be met, 65% ltv for arv.
Example:
Mortgage balance: 120k
Repair work: 60k
After repaired value: 280k
65% ltv of arv.
Yes, there are hard money lenders that will go in second position. BUT… the points and interest are going to be much higher.
As far as rates go I really don’t care 2 much!! The maximum I will need is @ 60k and I’ll only
need it for a couple months, how much can 60k @ 20% cost me over 2 months??
Can you put me in touch w/ HML in the Chicago market? E-mail…