Posted by Steve-Atl on May 18, 2000 at 08:46:51:
Simple. You need to buy it cheap so that the hard money loan will cover your purchase, rehab, and holding costs. Otherwise, you may need some cash to make the deal work. E-mail me if you want to see the numbers on a sample deal.
Question about financing and rehab homes… - Posted by Charity
Posted by Charity on May 17, 2000 at 12:26:18:
If you purchase a home and you get the hard money lender to give you the funds and it takes, say, 4 months to do all the repairs, how do you all handle paying the payment? I mean, this would be my first deal and I’ve found some good prospects. Now I need to know how I will pay the payments until the house is rehabbed and sold.
Charity