All Forum Posts by: Shawn Alleman

we have been buying and holding rental property for 10 yrs. End the past we were BEGGING banks to lend us purchase price with rehab money, which we all know is getting super hard to do. We are currently using "hard money" to purchase properties, then rehab, and finally roll those loans into a regular bank at 80% LTV. We are currently paying 9% on our hard money, with a pre-payment penalty purposively instilled to guarantee our hard money lenders there return. It works good for them because if we roll into bank in 6 months, we use there funding again, and they can actually have an 18% return on their money in 12 months being "first lean holder" to secure their money.