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Updated almost 4 years ago,
Hard Money Lenders in New England
I've got a great opportunity to get up to about 50 houses which are all rented and making out well. Only problem is, I think the best way to go about it with the situation would require ~ $50k - $100k hard cash per house.
I could go take out a loan and get a couple of them but I feel like I need to take advantage of the situation and go all in.
So.. what I am looking at is up to about 50 single family houses (I am not interested in the multi family buildings) which have a standing mortgage which is transferrable. The sellers are only asking for cash to cover the difference between the mortgage and the assessed value. I have an attorney who would handle everything; there would be no closing costs. All houses need nothing, they are rented and paying.
Long story as to why they are selling and I am not sure if I would have permission to give out that info but it is nothing to do with the houses.
ANYHOW, the question is, where does someone come up with money for something like this?