Private Lending & Conventional Mortgage Advice
Market News & Data
General Info
Real Estate Strategies
Short-Term & Vacation Rental Discussions
presented by
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Tax, SDIRAs & Cost Segregation
presented by
1031 Exchanges
presented by
Real Estate Classifieds
Reviews & Feedback
Updated almost 11 years ago,
Need to refinance house with 9 liens
I have a house with 1 hard money loan and 8 private investors. I know this seems like a lot but the private investors invested very low amounts of money ($5K - $15K). The house was appraised at $310K recently, I have had it for a year and I am looking to get $268K out of it to pay my private investors and hard money back. That's 86% LTV so it may not work.
Alternatively, I would like to get $147K to pay back by private money and keep the hard money loan until the house sells.
Any advice?