Skip to content
×
Try PRO Free Today!
BiggerPockets Pro offers you a comprehensive suite of tools and resources
Market and Deal Finder Tools
Deal Analysis Calculators
Property Management Software
Exclusive discounts to Home Depot, RentRedi, and more
$0
7 days free
$828/yr or $69/mo when billed monthly.
$390/yr or $32.5/mo when billed annually.
7 days free. Cancel anytime.
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
General Real Estate Investing
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated about 8 years ago,

User Stats

91
Posts
32
Votes
Dakota Mivshek
  • Real Estate Broker
  • Miami-Denver-Austin
32
Votes |
91
Posts

Hard Money Lending - Current Opportunity, need advice

Dakota Mivshek
  • Real Estate Broker
  • Miami-Denver-Austin
Posted

Hi There, 

Without getting into a ton of details, my dad (a realtor in Colorado) has an opportunity to buy some condo's that are currently being constructed at 50% expected market value. It is an exclusive opportunity - the developer needs cash to finish the project. i.e.) a condo is being sold for $100k now, and will sell for $200k when finished in 12-18 months. 

Will a hard money lender be an option here? A note that will be accrue and pay interest and principle at the time of sale of the condo?

With this opportunity, it is not crazy to offer a high interest rate to secure a loan. 

Any ideas here?

Thanks!

Loading replies...