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Updated almost 2 years ago,
Hard money lending without down payment?
Hi BP Crew,
First time caller, long time listener and new BP member here.
The backstory: I have submitted an offer on a rehab through the MLS that my buyer agent (who is also the sellers agent btw) says the owner will most likely take the offer. Once accepted, I've been planning on assigning the contract but my cash buyer doesn't like the deal as much as I do. I personally love the deal and I'm considering taking on the project myself.
My question to the community is:
Is there a way to borrow hard money without a downpayment? From the information I've gathered, most hard money lenders require a downpayment of up to 30% of purchase price. Any advice would be much appreciated.