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Updated about 6 years ago on . Most recent reply
HARD MONEY LENDING TIMELINE
Help! I have come across a duplex that is an amazing deal. This is a neighbor of mine and is looking to sell quickly because he needs to close on another property. How long does it usually take to close with a hard money lender? Of course its in Alaska and we just had a huge earthquake... so not getting calls from lenders there. The property will cash flow 1700 a month as long term and greater potential as airbb which i also currently do. How can i close on this thing in 10 days!? Thank you so much
Micah
Most Popular Reply
You could probably do it, but you want to start looking now. Most of them require some sort of inspection, appraisal, asset verification, or proven track record.
A better question would be how do you plan to get out of your hard money loan? If you've never used HML my advice is don't get in without an exit strategy.