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Updated over 2 years ago,
Hard money loan for apartment complex
Hi BP community,
I came into an investment opportunity that I need to either raise or borrow fund for. Which is easier and faster to get into? A hard money loan or finding investors?
it's a small apartment complex with less than 10 units in a desirable California location. It's been poorly ran so has a lot of upside. I'll probably need about $1.3m +/- with me putting in $500k+ of my own funds. I need to have funds within 25 days to close on this deal.
How do i go about getting funding for something like this? I never looked into hard money loans or how to find investors since I've always had traditional methods of funding.