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Updated over 5 years ago on . Most recent reply

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3
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Caesar Barona
  • Calgary, AB
0
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3
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!00 % Hard Money for Apartment?

Caesar Barona
  • Calgary, AB
Posted

I am looking at an apartment selling for 1.3M. It has 4 units, 19 rooms total renting at $700 per month each, with no repairs or renovations needed.

Is it a good idea to accept 100% loan from a hard lender offer? How would you refinance the deal? The banks only offer 80% refinancing.

I'm currently  renovating a second property, and may be cashed out soon. I'm using lines of credit at this point.

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