Looking for commercial lender nationwide that can close quickly. Terms will be discuss and I have a exit strategy. Equity based lender
When you say “Equity Based Lender” I think you want a lender who will loan 70 or 75% of FMV without regards for a down payment from you?
Is this correct?
Equity based is supposed to mean (at least it used to when I started this in the 80’s) that credit will not play a factor, Over the years the seminars seemed to have changed that to something meaning no down payment :bs
I think you are correct about that
But in these times no one is getting any part of the business with out some money in it
I do not think any one is going to the 70 % or any thing above as a loan of any type
It seems like you might as well go with a bank versus hard money these days unless you have very bad credit or no job or something.
If you still have to put up 30%+ and are going to have a very high interest rate I don’t see the point in most cases.
I don’t see much of a case for hard money if you have good credit
If they are loaning on ARV/ Rehab money then that is a different story.
HARD MONEY IN MOST CASES IS FASTER
This outside of the stated bad credit would be the good case for hard money