Using Hard Money

[Griffin F.]

So, I have a great opportunity on a home. I do have an investor who verbally committed to be willing to work with me, however, isn't the most time efficient nor easiest person to get a hold of.

Therefore, I am quickly exploring my options.

My question is, how might an investor adjust his MAO when using a hard money lender, if at all?

One lender I spoke to said his loan would come with 3 pts and 15% interest, high because the loan will cover purchase + rehab.

I did a few searches looking for my answer but no solid luck, so I started this thread.

Thanks!

Griffin

[Jon Holdman]

That 70% rule of thumb assumes hard money. If you can get cheaper money, your profits will improve. The terms you list are pretty typical. Seems like you're well positioned to give this a shot.

"Home" is that emotional word you use with buyers. For us, these are "houses" or "properties" or "piles of sticks and bricks." Avoid emotion.