All Forum Posts by: Tyler Kimmel

@Joshua Gordon I have used hard money in the past and had good experience with it. It has worked well for me tho I have only used it as short term financing (6-12 months). My rates ranged from 12% to 15% and I used it on investment properties. Most likely your payments will be all interest payments as well and most likely there is money owed on the back end of the loan if not up front. Most hard money only funds a portion of the purchase price tho the companies I work with fund at 100%. You just have to shop around.

I don't know your situation tho hard money is for short term typically tho if I found a private residence that I couldn't pass up, I would use the hard money to get into the house then try to refi back to a lower rate as soon as possible.

Hard money comes in many different forms and terms. Yes you can have multiple properties with one lender. Yes you can have multiple loans out at the same time.

@Andre Buckner Agreed. 2-4 units "should" be easy to manage. All depends on the tenants you choose. Just once you cross that line with them of knowing you own the property there is no going back. You could always say you are the property manager and you work for the owner. This could create a little separation.

I agree with @Brandon Turner first statement tho be careful living on the same property as your tenants. Often times it is good to have some sort of separation between you and them. Living on the same property as them alllows them show up on your doorstep anytime they want. You could always hire property management and the tenants will never even know you own the property.