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Updated over 9 years ago on . Most recent reply
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Deferred Payments
Hello everyone,
I am just starting my journey in this industry, so please excuse my "newbie" question! If I were to receive a loan from any one of the recommended sources, such as private loans, hard money, seller financing, etc, for property that I want to rehabilitate and then rent; while I am rehabbing and placing the property on the market, how likely am I able to be granted the permission to defer payments for the loan until I get tenants? I am just starting as mentioned above and while I am educating myself with the vast amount of books and online content, I thought, why not just come right out and ask about this. If deferred loan payments are possible, (and more importantly, fairly common), it'll go a long way in instilling confidence in this very big move I see myself taking.
Thanks!
MarcAnthony Morrison