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Updated about 2 years ago on . Most recent reply
Hard money vs a conventional loan vs any other options?
Im buying a couple of condos and converting them into one unit. Projected time frame of the project is a few months. My plan then would be to either sell or refi and rent it out.
Id love to hear thoughts on the best loan type for this? Hard money, purchase + construction conventional type loan, etc. Possibly even a hard money into DSCR?
I know due to my taxable income, i likely wont qualify for a conventional loan right away
I appreciate the feedback
Most Popular Reply
Quote from @Jake S.:
Im buying a couple of condos and converting them into one unit. Projected time frame of the project is a few months. My plan then would be to either sell or refi and rent it out.
Id love to hear thoughts on the best loan type for this? Hard money, purchase + construction conventional type loan, etc. Possibly even a hard money into DSCR?
I know due to my taxable income, i likely wont qualify for a conventional loan right away
I appreciate the feedback
What we do in this scenario is some sort of alternative lending (hard money, etc) into a DSCR loan. Usually works out pretty well.