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Updated almost 6 years ago on . Most recent reply

User Stats

160
Posts
58
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Javier Rosales
  • Rental Property Investor
  • Los Angeles, CA
58
Votes |
160
Posts

Not sure about finances

Javier Rosales
  • Rental Property Investor
  • Los Angeles, CA
Posted

I have a HML funding 100 percent of the purchase price and Rehab. Should I get a second lender to fund for the interest payments? For the HML?

Most Popular Reply

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1,384
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Frank Wong
  • Real Estate Broker
  • Bay Area
3,263
Votes |
1,384
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Frank Wong
  • Real Estate Broker
  • Bay Area
Replied
Originally posted by @Javier Rosales:

@Frank Wong am I going at it the right way?

 Javier, 

Please take this as tough love. Seriously??  Reread what I wrote. Does it sound like you are on the right path?  If you can't see what I mean let me make it crystal clear. NO, it sounds like a nightmare. 

Let's say your plan out loud. You plan to borrow from a HML to buy your investment and have it finance 100%. You don't have any money to pay for the HML so you want to borrow more money as a private loan to pay for the HML. YOU don't have any money you should not be investing. It takes money to make money.

Part of investing is to know when you are ready and when you are not.  You are working from a huge disadvantage from this position. 

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