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Updated over 7 years ago,
Hard Money Second For Owner Occupant
Hello Everyone. Hey Ive been talking with a friend of mines who lives in California. He has a property that has 2 houses on one lot + a garage thats converted into a living space as well. He lives in the front house and rents the other two units out. He receives $1700 in rent from the two units. He has a first mortgage of $100k and is looking for a hard money second for $50 - $75k in order to upgrade the garage unit and then sell the whole property location. His credit is not that good. Right now the property value is around $600k.
I told him that he should be able to find a second but he says he's looked everywhere. My question is, how hard is it now a days to find owner occupant hard money seconds? Where do I go to find?