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Updated about 5 years ago on . Most recent reply

User Stats

27
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10
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Ryan Keeslar
  • Rental Property Investor
  • Mary Esther, FL
10
Votes |
27
Posts

Looking for hard money quick

Ryan Keeslar
  • Rental Property Investor
  • Mary Esther, FL
Posted

I have heard good and bad things about hard money. I have 3 townhomes locked up for 100k. I should get approved for a personal loan for this amount but I usually end up paying for multiple loans ... meaning fees. Any good lenders that can close within a week or 2 that give great rates?

  • Ryan Keeslar
  • Most Popular Reply

    User Stats

    776
    Posts
    776
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    Frank Geiger
    • Rental Property Investor
    • North Carolina
    776
    Votes |
    776
    Posts
    Frank Geiger
    • Rental Property Investor
    • North Carolina
    Replied

    HMLs I know are at least 10%-11% minimum with 1-2 points. You are thinking more like private money rates. That takes relationships and networks to build. I don't think that's feasible to obtain in 2 weeks.

    Honestly if a 10% HML loan kills the deal, its not a good enough deal.

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