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Updated almost 3 years ago,

Steven Barr's profile image
Steven Barr's profile image
Steven Barr
  • from Atlanta, GA
  • Member since Dec 18, 2021
Connect

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163
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57
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Steven Barr's profile image
Steven Barr's profile image
Steven Barr
  • from Atlanta, GA
  • Member since Dec 18, 2021
Connect
Steven Barr
  • Atlanta, GA
57
Votes |
163
Posts
BRRRR - Buy, Rehab, Rent, Refinance, Repeat

Hard money didn’t count as cash offer

Steven Barr
  • Atlanta, GA
Posted

We just tried to put in a cash offer on a house, only to find out that our hard money loan could not be consider a ‘cash offer’. 

My question is twofold… 

1. Is this normal?

2. If this is normal, why in the world would anyone use hard money and pay the points, fees, and high interest instead of just using conventional financing?

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