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Updated about 8 years ago on . Most recent reply

Tiffany Spann's profile image
Tiffany Spann's profile image
Tiffany Spann
  • Rental Property Investor
  • from Upper Marlboro, MD
  • Member since Feb 28, 2017
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Tiffany Spann's profile image
Tiffany Spann's profile image
Tiffany Spann
  • Rental Property Investor
  • from Upper Marlboro, MD
  • Member since Feb 28, 2017
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Tiffany Spann
  • Rental Property Investor
  • Upper Marlboro, MD
6
Votes |
33
Posts
Creative Real Estate Financing

Are two hard money loans possible for one property?

Tiffany Spann
  • Rental Property Investor
  • Upper Marlboro, MD
Posted

Is it possible to get two hard money loans for a property that is being flipped?  One loan for the house, the other loan for renovations.

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Jackelyn Gonzalez's profile image
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Jackelyn Gonzalez
  • Lender
  • from Los Angeles, CA
  • Member since Mar 13, 2015
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Jackelyn Gonzalez
  • Lender
  • from Los Angeles, CA
  • Member since Mar 13, 2015
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Jackelyn Gonzalez
  • Lender
  • Los Angeles, CA
28
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121
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Jackelyn Gonzalez
  • Lender
  • Los Angeles, CA
Replied

@Tiffany Spann

There are hard money lenders that will lend in 1st, 2nd and even 3rd positions. However the combined LTV (loan to value) will have to be low. There are a ton of private money lenders out here that will, not sure in your specific area. I keep contacting different lenders. Now if you're looking for more than 100% financing....that won't happen with multiple lenders. Your best bet will be to find an ARV (after repair value) lender that can lend a high purchase LTV and all or most of the rehab.

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