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Updated about 1 year ago on . Most recent reply

User Stats

82
Posts
35
Votes
Paul Meyer
  • Contractor
  • Virginia Beach, VA
35
Votes |
82
Posts

Seeking private lender on low risk loan 50% LTV (no liens on property)

Paul Meyer
  • Contractor
  • Virginia Beach, VA
Posted

I've gone through traditional hard money / conventional loans and denied because it's rural and manufactured home. I think that's a stupid reason not to lend on my investment rental. Home is paid in clear and comps over $400k. 100% renovated in 2023. Seeking a loan of $150-200k @ 5% for 360 months to be first lien on property to cash out to pay off higher interest rate loans/credit cards. Not interested in selling home. Seeking it as a long-term STR. For someone sitting on a lot of cash this is a low risk incoming earning opportunity.

If interested msg me for more information and pictures to property.

No hard money lenders for short term loans, seeking a long-term solution to finance what I have in it.

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