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Updated over 6 years ago on . Most recent reply

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Jason Gordon
  • Wichita, KS
4
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30
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Hard money lenders for buy and hold?

Jason Gordon
  • Wichita, KS
Posted
I have a landlord in Wichita Ks with health problems looking to sell his 9 duplexes. Looking for a hard money or other creative funding for a buy and hold. Any suggestions?

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Andrew Postell
#1 BRRRR - Buy, Rehab, Rent, Refinance, Repeat Contributor
  • Lender
  • Fort Worth, TX
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Andrew Postell
#1 BRRRR - Buy, Rehab, Rent, Refinance, Repeat Contributor
  • Lender
  • Fort Worth, TX
Replied

@Jason Gordon one of the main concepts to hard money is that it is not a long term solution. There are some out there that will modify or refinance their HML into a 20 year fixed rate but that rate will be significantly higher than market rate. Usually when I hear "creative financing" it means that someone wants as little out of pocket as possible. Hard Money Lenders can provide that type of a service and there are some local/community banks that will likely have those types of loans too. Most will require at least 10% down if this is your first time working with them though. If you are needing a lender local to Wichita then please post this in the Kansas forum. Good luck!

  • Andrew Postell
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