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Updated over 7 years ago on . Most recent reply
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Fort Collins area hard money
Hi all,
New to Fort Collins after serving 8 years in the Air Force, mostly overseas. Moving to the city in November. Going to become a mortgage banker in December.
In the meantime, I need to get investing in real estate! I need to buy a place, add value to it, rent it out and see if I need to update my financing to account for the added value. I also need a place to live.
So, I need a hard money lender. Reason: I can't get approval for a conforming loan based on taking a commission based position without at least two years of income history.
Here's the rub: I can't get a hard money loan without having a good property lined up. I can't get a good property lined up without having an approved funding source (at least it seems that way here in FoCo).
How would you guys proceed? I appreciate any and all thoughts and comments.
Most Popular Reply
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@David Hooper have you talked with a hard money lender yet? My first step would be talking with a couple. See what their terms are and what they are currently lending on in the market.
For hard money, talk wth @Justin Cooper at Pine Financial.
How are you finding the deal? Have you talked with an investor-friendly agent in the area?