Do hard money lenders do this? - Posted by Bobby-PA
Posted by Bobby-PA on November 09, 2000 at 24:18:45:
I have a property that I was renting to inherited tenants.
To make a long story short, the tenants were evicted and I had a lot of renovations to do after they were gone. The renovations are complete and the house is now on the market to be sold. I used about $14,000 from an availabe credit account to pay for the renovations. The property, when sold will net more than twice this amount. What I would like to know is if there are hard money lenders who would lend the $14,000 to repay the credit accounts in return for their money, plus any predetermined interest once the house is sold. What other incentives might I offer to attract a lender for something like this.