Hard money in Massachusetts

[Trevor Kelly]

Hi guys,

I have a 3 unit and a 2 unit and am looking to make an offer on a 6 unit building.

While in the process of cash out refi-ing the second property I was thinking of using hard money to finance the down payment of the 6 unit property and then go through commercial financing.

I have recently been quoted 3 points in; 12% on the lump sum under 18 months.

Does anyone have maybe a more inexpensive route or is this pretty standard?

Appreciate any replies.