Refinance With A Hard Money Lender To Leverage Your Money
I am frequently asked by new clients if they can refinance their property with us. The answer is not a blanket one. There are a few possibilities to consider and one to rule out. We don't deal with primary residence or owner occupied properties because they would not be considered investments or commercial loans. The good news is that if you have an investment property that you have all of your cash tied up in or a lender with a note coming due, we can certainly refinance the property.
It happens quite often that an investor will call because they want to use their investment property that is on the market renovated as collateral so they can either pull cash out to buy another deal or simply cross collateralize the property. It is important as an investor to make sure that if you tie your cash up in a property you also have a very easy method to access that cash in case you have another deal that comes across your plate. We don't have seasoning concerns on our loans so we move very quickly for investors that need to take out a current position on a property or use their property for leverage.
Ian Walsh
215.839.3271
Comments