Applied Montegra Capital Resources. A hard money lender generally is supposed to use the property being purchased as collateral for the loan, like when you put a mortgage on your house.
I’m turning a multifamily into a condominium. Notice I say ‘turning’ in present tense.
My bank really liked the idea when I showed them the financial projections and the final profit margins for the project.
I’m paying a bit more, but hey. Anyway, as hard money lenders go, I’d say not to waste your time.
Find a company that actually IS hard money lender instead of just saying it is. Or, just go to your bank.
Sounds ridiculous, I know but I’m likely going to net a minimum 350k from the sale of these properties so long as they’re priced to sell.
So seriously, check with your bank first.