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Updated about 7 years ago,
HELOC funds for hard money loans
I’m not planning on trying this, but what’s stopping someone with a HELOC or another type of low interest loan to be a hard money lender? I have two HELOCs (4.5 and 5.25%).
I’ve never taken out a hard money loan but I read ~12% and 2-4 points isn’t uncommon. Anyone ever do this?