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Updated over 3 years ago on . Most recent reply

Account Closed's profile image
Account Closed's profile image
Account Closed
  • Realtor
  • from Atlanta, GA
  • Member since Feb 3, 2020
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Account Closed's profile image
Account Closed's profile image
Account Closed
  • Realtor
  • from Atlanta, GA
  • Member since Feb 3, 2020
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Account Closed
  • Realtor
  • Atlanta, GA
19
Votes |
42
Posts
Starting Out

Trading in a Hard Money Loan

Account Closed
  • Realtor
  • Atlanta, GA
Posted

Here is a stupid question...

Would you ever take out a second hard money loan with a lower interest to pay off the original higher interest hard money loan? 

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Stephen DeThample's profile image
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Stephen DeThample
  • Real Estate Agent
  • from Las Vegas, NV
  • Member since Oct 17, 2020
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Stephen DeThample's profile image
Stephen DeThample's profile image
Stephen DeThample
  • Real Estate Agent
  • from Las Vegas, NV
  • Member since Oct 17, 2020
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Stephen DeThample
  • Real Estate Agent
  • Las Vegas, NV
299
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452
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Stephen DeThample
  • Real Estate Agent
  • Las Vegas, NV
Replied

If the 2nd Hard Money Lender will refinance the property and it makes financial sense ( new points, % rate) then it can be a great idea.

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