Hard Money lenders

[Aryelle Collins]

I'm not sure if this is a dumb question or not but I'm going to ask anyway because I don't know the answer. I am looking for multi family properties to buy and hold in Tampa, Fl, and I want to owner occupy one unit, but my question is are you allowed to used more than one hard money lender to acquire the funds you need to purchase a property?

[Jay Hinrichs]

HML generally don't do owner occ.. this is a fabulous strategy though to use your FHA loans on .

minimal down fantastic interest rate and if it works out right you live in a unit at no cost to you.

you need the 3.5% down plus closing costs.. you need decent credit mid 600's should do it.

and you need steady w 2 income with your DTI in the right spot and your home free.

if your intent is to use HML because you think you don't need any cash to get into the deal or you have poor credit or income.. then your wasting your time..

only way to get into a deal in that manner is to sweet talk an owner into owner financing it to you

or getting a money partner.