Financing questions.... - Posted by Keri

Posted by Michael on July 05, 2003 at 24:44:01:

Hard money lenders are business men plain and simple. They lend money at higher interest rates 11%-15% in most areas and charge you several points. You set up the terms with a balloon payment usually 6-12-24 months or whatever but you only pay monthly interest payments, nothing towards the principle balance of the loan. Plus having access to cash in hours is a huge advantage when negotiating with sellers who may need quick money.

If you and your husbands credit is good you should learn more about LIBOR Interest Only Loans. do a search on that, extremly low rates, this LIBOR is tied in with Europe markets.


Financing questions… - Posted by Keri

Posted by Keri on July 04, 2003 at 19:41:16:

My husband and I are relatively new to investing. We purchased a 4-plex using conventional lending. We want to continue to purchase property, but we’re looking for other ways to obtain financing. I’ve started looking into hard money lenders, but was hoping someone here could explain exactly what these are and how they work. Also, any other ideas or suggestions would be greatly appreciated.