Cleveland, Ohio HML suggestions

[Tom Kuhen]

Hello all,

I'm currently analyzing a deal in Cleveland, Ohio, and have a question about hard money lenders. I know that some common terms are: 2-4 points, with an 8-15% interest rate, over the course of 3-12 months depending on extensions and such. I assume it's not common practice, but has anyone heard of / had experience with deferring all of the points and rates until the end? I know at that point, it's similar to doing a JV in which one partner provides funds, and the other runs the rehab. If anyone has experience / knowledge about it, I'd love to hear how it went, and what other terms there were (if any).

Also, if anyone has suggestions for HML / JV partners that are willing to lend in the area, I am all ears. Thank you.

Happy investing,

Tom Kuhen