Hard Money Project

[Taylor J.]

I have a deal in a luxury market where I am looking to renovate a 5,000+ sqft house that is a bit outdated. I think I can buy it at a great price to make my margins work.

I have never used hard money, but this deal requires more cash than I would like to tie down (2mil). I am looking to use hard money for the purchase and my personal money for the reno.

Will hard money lenders lend on something of this size? Any recommendations are appreciated.

[Chris Seveney]

Quote from @Taylor J.:

I have a deal in a luxury market where I am looking to renovate a 5,000+ sqft house that is a bit outdated. I think I can buy it at a great price to make my margins work.

I have never used hard money, but this deal requires more cash than I would like to tie down (2mil). I am looking to use hard money for the purchase and my personal money for the reno.

Will hard money lenders lend on something of this size? Any recommendations are appreciated.

 Yes they will lend on something this size but will not fund 100% of the purchase. They will fund 80-90% of purchase and 80-90% of renovation but not one or the other if that makes sense. they want skin in the game from both sides (acquisition) and renovation. 

Hope that makes sense.