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Updated over 11 years ago,
Buy and Hold Financing Question
I am currently looking to purchase my first two rental properties. Ideally I would like to purchase one single family and one multifamily. My question for this post is about the financing of those properties. From everything I've read, hard money would be the way to go to purchase these properties for my situation. However I'm looking for a loan that I could have for a few years before converting to a conventional loan. Most hard money terms I've seen are a year or less. Is it possible to get a hard money loan for a longer term? If so, would that be best way to finance this type of deal? I welcome all comments and suggestions. Thank you in advance for all your help.