All Forum Posts by: Chris Severin

 Shouldn't you be able to refinance after one year? You could beat some of that high interest, at least I've read books that say you are eligible for refinance after one year.

I really am looking into a hard money loan because I found someone who does 100% financing. My credit is not an issue but would a regular bank or credit union be willing to take on the task? Most people I have talked to said to me that it's much harder to get into the game with no starting money.

Just wondering, is it possible to refinance a hard money loan? If so, what institutions would do so. I have read that hard money is not a long term finance strategy, so what is the next step once time runs out?

 You can log onto the site www.dohardmoney.com and check the states they serve. There are several. And again they are accredited by the bbb.

I found a hard money lender accredited by the bbb and they are willing to finance 100%. I know that there is a premium for their services, ie high interest but is there anything I should be cautious about with taking hard money. Sometimes it seems too good to be true that someone will fund an entire deal , even the closing costs.

ok  I have read things on creative finance and I found a hard money lender that will finance (if they think worthwhile) 100%. Having never dealt with a hard money lender, is there anything I should be cautious about?

Hello, 

I was wondering...I found a property I am interested in, and I ran some numbers and it looks like a good deal on paper. I am sure I can negotiate the price to match property similar to this one, but upon further research I found the property had been under contract and the deal fell through. Now it's back on the market. Is this a sign that this deal is not what I think? Pretty sure there are a number of reasons why this property is back on the market, but I'd like to hear some possible feedback from someone who may have experienced this as a new investor.