Financing might be a challenge.I would recommend consulting with a attorney, loan officer, and CPA to discuss your specific situation and determine the best course of action. 

One of the biggest mistakes I see investors making is they forget to address things like HVAC, siding, etc when they have access to a hard money loan.

If the interest rates go up to around 7% again do the numbers still work for the remainder of the loan? 

Similar to what Patrick stated - most have ITINs and have seen a lot of loans like that and those are sold many times on secondary market. if not I know people who still originate I would say they are tougher to sell on secondary market but there are still buyersRe: jay comment - price of notes has doubled over past five years on many loans - especially defaulted or loans with some hair too them. 

M my loan never closed.

Cash flow is definitely the biggest challenge; both in terms of finding properties to buy that cash flow with a loan on them and just company wide given interest rates and labor/material is up and, at least where I'm at in Jackson County, MO, taxes are way up too. 

It’s because having cash available doesn’t not necessarily mean the borrower has the credit CAPACITY to obtain a loan.  

Hey Patrick, This would be a DSCR loan.

Loan officers with 25 years of experience typically are more experienced, and have less time per file, because they have an abundance of files.Loan officers with 25 months of experience typically are less experienced, but have more time to devote to you.I can't write my own loans, so when I'm getting a loan I prefer working with less busy people when I'm doing my own real estate investment, they're more responsive and dedicated it feels like.

We just had our 3-year loan mature on 2/2/24.