Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here
Pick markets, find deals, analyze and manage properties. Try BiggerPockets PRO.
x
All Forum Categories
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

All Forum Posts by: Torean Gardner

Torean Gardner has started 3 posts and replied 4 times.

Hi I have an investment property Im looking to refinance into a long term rental. I don't have the best of credit right now but have a decent amount of equity in the property. Are there any lenders you think that would be willing to loan for a long term rental under these conditions? Property is in NJ,  thanks 

Yes have an attorney involved the resolution is now to refinance and finish out the project with a different lender. Draws went from weeks to months to not being released at all, highly unusual I know since I have had success with other deals (hard money  lenders) I had except from this specific shady lender. 

So without going into extreme details. I had a property that I financed with a very shady hard money lender. Long story short lender stopped releasing draws and properties construction stopped as a result of it. I’m now looking to refinance and finish the project or look into getting bridge funding and finish the property on my own (property is about 75% done. Which would you recommend and has anyone else had a similar situation with a shady lender? thanks 

Hello everyon! Looking to get some advice on a current project I have going. I have a property I’m currently fixing that I had financed with a hard money lender. I’m having a huge issue with them currently. First draw I requested took 3 weeks to receive, second draw took a month and this third draw they have refused to release halting my progress. Because they told me I need to be on site with the project. They were aware when I closed the loan that I work in California. But travel back and forth from the west coast to east coast. The current project is in NJ. I have a project manager that’s overseeing the entire project since I’m not there. For some reason now it’s an issue. I’m really kind of stuck on what to do since we can’t get the 3rd draw.  Looking for advice or can you refinance midway through construction? Thanks for your time