hard money - Posted by Eli

Posted by NJDave on January 23, 2001 at 16:23:24:

When we do hard money loans, it is always based upon the subject’s as-is, fair market value.

hard money - Posted by Eli

Posted by Eli on January 23, 2001 at 15:23:33:

When hard money lenders talk about financing 65% loan to value, are they talking about the value before renovations or after?

Re: hard money - Posted by Jim Kennedy - Houston, TX

Posted by Jim Kennedy - Houston, TX on January 23, 2001 at 18:28:22:

Many hard money lenders will base the LTV on the ?after repaired? value as opposed to the ?as is? value. This allows the investor to pay for the repairs as well as the acquisition of the property. In those cases, the repair funds are generally held in escrow and released on draws after each stage of the rehab is completed.

As NJDave suggested, since each hard money lender can set his own terms and conditions, just ask.

Hope this helps.

Best of Success!!

Jim Kennedy,
Houston, TX