hard money secondary financing?

Financing, Hard Money Lenders, Private Money
1

Another question. Anyone know if it is possible to use a HML for the downpayment for a commercial prop? If so could anyone PM with some names of reputable HML’s?

Thanks,
Rosanna

2

Hi Chris,

Can you elaborate on what exactly that is?

Thanks,
Rosanna

3

Having someone come to the table with money for downpayment that is taken back at closing. Again it works for deals that have equity. Like buying a $1mil property and seller wants $750K and the bank requiring 10-15-20% down payment.

4

Nope—not in the conventional hard money sense anyway…

Regards,

Scott Miller

5

You are negative!!! Yeah you gota be real but I went to your site and it looks a bit fishy so be a little positive to these people, this is a learning board not a being negative board

6

Are you referring to me and my website?

What is so negative about telling somebody the truth?

I suggest that you look at my entire posting history on this forum (and others) before you jump to any snap conclusions about me…

Regards,

Scott Miller

7

As to my website and respective offer—I have had an overwhelming response to the marketing campaign (who doesn’t want a fixed cost loan—who wouldn’t want to borrow money at a fixed cost above wholesale?).

You are welcome to your opinion and if you think it is “fishy”, then it is your perogative not to do business with me.

You’ve been a member for less 15 days with fewer then 10 posts—did you even bother to review the totality of my participation/contribution to this forum before making this character assessment?

I guess there is some merit in the old saying, “you can’t please all people all the time”, but this takes the cake…

Regards,

Scott Miller

8

What was wrong with his answer? From a conventional point of view hard money won’t do something like that. It’s TRUE! And please leave you opinions about people’s websites out of the thread, it has no bearing on anything in this thread.

Also, judging by your posts you are a total new. Scott on the other hand has been here a long time and helps many people on and off the board, myself included…what do you have to prove your knowledge? Seems like you’re the one that’s negative.

9
.....what do you have to prove your knowledge? Seems like you're the one that's negative.

Buehler?..Buehler?..anybody?

The silence speaks for itself. It would appear that Sammy our “mudslinger” has left the forum.

10

Rich,

Thanks for the nod, I thought I was going to get sucked into a “Fatal Distraction”…

Regards,

Scott Miller

11

What a stir!!! Can’t we all just get along? :argue

I should have re-clarified that it is borrowed for one day usually and isn’t a term loan to piggyback any loan, but initial post was deleted.

12
I should have re-clarified that it is borrowed for one day usually and isn't a term loan to piggyback any loan, but initial post was deleted.

CKC, your initial post was deleted as it violated forum rules. :rolleyes

13

My company is processing a similar deal as noted above. However, the buyer must follow company procedures and close at our PSA (Preferred Settlement Agent), but yes, the property must have sufficient equity to justify DPA. It is doable.