Hard Money Lender
I have found that lenders don't want to give loans as a second mortgage for investments. They want to hold the first position. I own my home and have a mortgage. How do I get financing for investment properties then? Do I refinance my home loan in with the investment loan? Any suggestions would be appreciated. Thank you.
Why put your home at risk when the Hard Money lender will loan on a investment property for it's merits alone.
Just a thought.....mimimumize you risk.
What altenative would I have then? Is it better to just pay 10% down with a traditional lender?
I am not a big advocate of using my own money. However if you feel you need to you could get a line of credit on your home and use it for what you want. IF you tell the lender you are going to use it for REI they may frown on it. It's your money you should be able to use it for what you want. Keep in mind if your investment goes SOUTH on you......you may lose your existing home in the process.
pull the equity out of your home
credit cards
private lenders
owner financing
alternative methods of purchasing..L/O .. Sub2
There are advantages to EVERY type of financing. Determine your level of risk and move accordingly.
Eric & Rosa
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