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Updated about 5 years ago,
Advice on a hard money loan deal
Dear Wise Investors
I am currently looking to get a hard money loan on a SFH that I plan to rent out in Missouri.
ARV: $85,000, Purchase price: $58,000, Down payment: $8,700, Loan amount : $49,300, Cash flow: $260, 4 points
The term for the loan is 12 months and I am required to use a LLC on the property and I wondering what would you do with deal and how would you get out of the hard money loan without having to sell the property?