being your own general contractor is key too. You are essentially paying yourself to do the work. You take that money and pay your monthly interest payment.
Why are hard money lenders - who I feel provide a great service - referring to themselves as "private lenders" when that nomenclature is usually applied to non-bank, non-hard lenders?
They don't want to be associated with the term "hard money" because they feel it makes them seem like a predatory, unprofessional, shady lender. There is a big push in our industry to eliminate "hard money lending" and replace it with "private lending" or "bridge lending". This initiative is mainly coming from lenders backed by institutional (Wall Street) capital.
So in other words seasoned investors some one please offer something for newer investors these people had some one give them a chance so i dont see any thing special he is offering do you
By 100% it just means you don't come up with any down payment on the house. you need to have cash to pay for points and closings cost when the loan funds. Plus you need to show the lender that you have cash reserves.
Yes, but the catch is you need to have cash to pay for points and closings cost when the loan funds. Plus you need to show the lender that you have cash reserves. Most lenders will require you to pay for the first phase of the rehab out-of-pocket, then you'd get reimbursed upon inspection. 100% financing is only offered in select areas by local lenders. One lender that offers 100% fix & flip loans in 30+ states requires income verification and tax returns, plus they require a 650+ FICO score.
being your own general contractor is key too. You are essentially paying yourself to do the work. You take that money and pay your monthly interest payment.
Good idea, but I'm not sure if lenders would reimburse for that expense. Perhaps some lenders would be fine with that.
Great video thanks 👍🏽
Thanks for watching!
great vid
Thank you!
Why are hard money lenders - who I feel provide a great service - referring to themselves as "private lenders" when that nomenclature is usually applied to non-bank, non-hard lenders?
They don't want to be associated with the term "hard money" because they feel it makes them seem like a predatory, unprofessional, shady lender. There is a big push in our industry to eliminate "hard money lending" and replace it with "private lending" or "bridge lending". This initiative is mainly coming from lenders backed by institutional (Wall Street) capital.
So in other words seasoned investors some one please offer something for newer investors these people had some one give them a chance so i dont see any thing special he is offering do you
That’s bs there no such thing 100 financing hard money
By 100% it just means you don't come up with any down payment on the house. you need to have cash to pay for points and closings cost when the loan funds. Plus you need to show the lender that you have cash reserves.
Is this even real?
Yes, but the catch is you need to have cash to pay for points and closings cost when the loan funds. Plus you need to show the lender that you have cash reserves. Most lenders will require you to pay for the first phase of the rehab out-of-pocket, then you'd get reimbursed upon inspection. 100% financing is only offered in select areas by local lenders. One lender that offers 100% fix & flip loans in 30+ states requires income verification and tax returns, plus they require a 650+ FICO score.
That’s bs
😂😂😂😂😂😂😂😂 yea no
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