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Updated over 6 years ago on . Most recent reply

User Stats

42
Posts
5
Votes
Hao Dinh
  • Real Estate Agent
  • Arlington, TX
5
Votes |
42
Posts

Looking for Hard Money Lender for my first deal

Hao Dinh
  • Real Estate Agent
  • Arlington, TX
Posted

I found a lot of hard money lenders around but would love to hear from someone experience and recommendations. 

Its going to be my first fix and flip so im not sure if 6 months will be enough. Im also a realtor , have my w2 and good credit score ( not sure if thats going to help anything to choose better hard money lender ) but yeah Please any advice would be awesome. Thank you so much. 

Most Popular Reply

User Stats

135
Posts
62
Votes
James H.
  • Investor
  • Dallas, TX
62
Votes |
135
Posts
James H.
  • Investor
  • Dallas, TX
Replied

Our experience has been that commercial loans are difficult to close in the short amount of time that is often needed when purchasing a home from a distressed seller.  (30-45 days.)

One alternative is a line of credit against a rental or commercial property that has no pre-existing mortgage - or a HELOC. Either of those is usually much cheaper than hard money. Plus, they can be accessed in a matter of hours.

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