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Updated 6 months ago on . Most recent reply
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what should i expect approaching a hard money lender for the first time?
i currently own a duplex and have been land lording for 18 yrs. i have found a potential investment opportunity 30 miles away. it is located in a community slated for substantial growth over the next decade due to the current construction of new semiconductor manufacturing facilities. the property is a 24 unit apartment building. supposedly it historically maintains 95-100% occupancy and has a waiting list. my question is what documentation should i expect the lenders to want? i have the current rent rolls & yearly expense report so far. however, i would assume they will require much more. as i have never approached a hard money lender, i would appreciate any advice given. im in texas by the way. thank you