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Updated almost 12 years ago on . Most recent reply
How much "skin" do hard money lenders generally require... or, what's a good % to propose?
Very hypothetical scenario: I find a deal where I have the opportunity to purchase a dilapidated home for $260k. Rehab costs are $75k. ARV is $490k.
Let's then say I have around $140k cash sitting around to invest, but don't want to tie up the whole thing in one deal, so I go after a hard money lender for a large portion of the funds. How much of that 140k might a lender might want to see me put into the deal?
I know there are probably tons of considerations to factor in. So I apologize for being so vague.