So they priced themselves about 2% over bank rates and about 4% below traditional "short term" hard money loans...This final loan it is supported by rental cash-flow and the underwrite still depends on good credit and DSCR of 1.20% as most commercial loans are.Send me an email so I can attach files....for your review.Regards.Richard

The properties are not within an LLC because they are traditionally financed.

Once it was a knife and it melted the handle and the next it was a medicine cup for a child.

The other had a vanity needing replacing, so I shelled out an extra $80 for a nicer-than-neighborhood espresso vanity and medicine cabinet.

Just looking around on realtor.com I'm amazed to see homes listed at as low as $30,000 this has me wondering, can one finance these homes with a traditional 20% down?

I do not check their passports either…they get paid per finished project. kitchen, bathroom etc. so far the system works out well.Gutted bathroom :Install durock, tiles around bath and on the floor, toilet, medicine cabinet, vanity, connect plumbing and paint = $800 labor for finished bathroom.

I was having challenges getting the the amount of money I wanted to generate the return I desired doing traditional leases.Because of these new developments it appears there is a Healthy short-term rental market.

You are saying you are looking for a way to become owner of your grandmothers property but don't have the money to buy traditionally?

I do not attend the ones I usually see "pimped" on here, but more traditional and longer tenured groups.

Yes, Hard Money Lenders will sometimes do that, for outrageous Interest Rates, but will be expecting you to either get a traditional loan within short order to pay them back, or have been told by you that you are selling it straight away for a profit, thus will expect immediate pay back on resale.Neither of those situations seem applicable to you though, right?