Refinance hard money loan - Posted by Chas Bryant

Posted by Rob Blake on January 21, 2000 at 01:49:07:


This is a good time to build a banking relationship. Find out who is the head of Commericial Lending, get an appointment and explain you proposal. Let him know you have many sources for funds, but you are looking to build a long-term realtionship. One that eventually you’ll be able to call up an get the funds you need to profit from deals that need quick action. Your goal is to get a Commericial Line of Credit in the range of $50,000-$100,000. It is not as hard as you think. US Bank where I live were giving them away all year. If you had a business entity 2 years old with no bad credit, you got it…$50,000 that day! Give it a whirl…try more than one bank. Even try credit unions…its like finding deals…you keep trying til you get it.

Good luck

Refinance hard money loan - Posted by Chas Bryant

Posted by Chas Bryant on January 18, 2000 at 19:39:59:

I purchased a house from a forclosure sale using a hard
money loan. Purchase price was 42,000 the house appraisal for 95,000 which market value repairs were made after
closing. I’am trying to refinance out of the high interest
hard money to a lower interest rate.

Having problems refinance due to the fact that I have
only had the house for (3) months. The property is
located in the state of Ohio. There is 57,000 in equity.

All suggestions are ideas are welcome.