I kind of lost touch with the real estate investing world during the Great Recession with all my spare time taken up by the need to keep my “business” afloat. Now recently I have gotten active again, have found a couple of nice deals, but have run into a wall: all the (alleged) hard money lenders I have contacted want 20% of purchase price out of my pocket in order to lend 70% of ARV. Ten years ago it was 70% of ARV regardless, and if the deal was good enough there could be cash left over for repairs.
The first deal I was working on was on the east coast, and I thought maybe it was a regional phenomenon. But now I am working local (Mountain Time Zone) and am running into the same thing.
Is it just me, or have things changed? If things have changed how do investors handle it now if they want to buy-fix and sell.