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Updated about 4 years ago,
OPM for down payment of HML bridge loan?
Does anyone have any advice from experience of using a private lender/OPM as their down payment for a bridge loan with a HML?
I'm still in the process of using my own funds, but am trying to plan and strategize and to get started on locating and developing relationships with private lenders and trying to lay a ground work for a business plan ahead of time. I figure this would be much more beneficial to have the plan laid out for the investor and be able to adjust it, rather than start from scratch from day one.
I'm planning on purchasing properties locally and out-of-state that are rent ready, and utilize a HML bridge loan and then refinancing with my normal conventional lender.