Refi deal that has hard money/owner financing - Posted by Tiffany (MA)
Posted by Tiffany (MA) on March 21, 2001 at 13:40:33:
About how long do I have to wait, if at all, to refi a deal structured from hard money & a seller second?
For example SFR purchased at 230k, valued at 275k. Hard money for 220k, seller carry back at 10k, 10% interest only balloon in 1 year.
Plan to do a lease option at 2800/mo, option to purchase price @ 285k. Hard money is around 13%, would like to refi to increase cash flow before I get cashed out in a year.
Any seasoning needed?