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Updated over 4 years ago on . Most recent reply

Karma Will's profile image
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Karma Will
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General Landlording & Rental Properties

Hard Money to Purchase a Rental Unit with Tenant and Few Repairs

Karma Will
Posted

First time Investor, looking to purchase a condo unit with tenant in place, for around market value.   Unit is in amazing location and condition.   Instant landlording - the question is will a hard money lender take this on?  Don't go easy on me.  Help me learn how this is done.  Thanks in advance!

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Moises R Cosme
  • Flipper/Rehabber
  • from Leominster, MA
  • Member since Jan 3, 2020
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Moises R Cosme's profile image
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Moises R Cosme
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  • from Leominster, MA
  • Member since Jan 3, 2020
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Moises R Cosme
  • Flipper/Rehabber
  • Leominster, MA
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Moises R Cosme
  • Flipper/Rehabber
  • Leominster, MA
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Hard money loans are typically commercial, no occupancy loans; typically the loan have terms that forbid occupancy during the loan period.  Double check the language.  

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