All Forum Posts by: Dashawn Holmes

My hard money lender left me at the closing table. I'm looking for a new one that will do a refinance quickly. I own the property and have the appraisals. Two single family homes appraisals came in at 280k a piece. Build cost with GC 185k. Any recommendations will be great.

Why do you need to refinance with a hard money loan? Is it a mid construction loan? When were these properties purchased?

I own the land 45k subdivided It. I don't have new construction experience only 6 flips however I have hired a GC to manage to build who is very seasoned.

The 6 flips should cover the requirement. You would be looking at a 85 LTC or roughly a $195,000 max loan.

I emailed

0 Votes

Greensboro, North Carolina

Quote from @Erik Estrada:

Quote from @Dashawn Holmes:

Why do you need to refinance with a hard money loan? Is it a mid construction loan? When were these properties purchased?

I own the land 45k subdivided It. I don't have new construction experience only 6 flips however I have hired a GC to manage to build who is very seasoned.

0 Votes

Greensboro, North Carolina

Quote from @River Sava:

I;m sorry to hear that, Dashawn. Why did the lender back out at closing?

They stated I didn't have new construction experience. Which I don't and they knew I have tons of flip experience. I am using a GC on the contract and there underwriting decided they didn't want to lend on the deal

1 Vote

Greensboro, North Carolina

0 Votes

Greensboro, North Carolina

All Forum Posts by: Dashawn Holmes

Dashawn Holmes has started 1 posts and replied 5 times.

Post: Lender backed out at closing table

Post: Lender backed out at closing table

Post: Lender backed out at closing table

Post: Lender backed out at closing table

Post: Lender backed out at closing table