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Updated almost 10 years ago,
Is this HML scenario possible
Hi,
A bit about me:
I am Australian and I live in Australia. I am looking to invest in Multifamily deals across the US. I currently have some property in Florida.
I have found myself a deal in Texas that I am very keen to move on.
The problem that I am facing is that I have only been able to raise around 20% of the down payment and am in need of finding someone else to help fund the deal. (I have a lender who is prepared to fund the deal at 75% LTV)
I have tapped out all my family and friend connections here in Australia and in the US and the deal isnt really big enough to syndicate properly with a PPM and SEC attorney fees.
I have been looking at HML to see if they would lend to me to help out with a one to two year term at a fixed interest rate secured by a second place lien on the deal.
Is this service even possible?
Does anyone know if there are hard money lenders out there that provide this sort of service?
Any advice would be greatly appreciated