Posted by Dave on May 08, 2008 at 06:45:51:
In Reply to: Hard Money Lenders posted by Jamal on May 07, 2008 at 19:44:02:
I have refinanced some Hard Money Loans in the past with conventional lenders. The main criteria that the lender wants to see is that you have equity in the property especially for investors. They like to see 30 % equity which gives you a 70 % Loan to value . If these numbers will not work for you then you need to be buying these properties for less so the above numbers will work for you. A common question that seems to come up on these boards is where do I find Lenders ( hard money or conventional ) I have found these at my local Real Estate Investors group which is also a great place to network with other investors . Good Luck