Hello Mates,
I have been wanting to get 2-3 condos with a hard money loan, lender interest rates are at 14% on a 6-1 year loan term. I was wondering what can I do with those condos if I buy them with hard money loan ? I do know I want to rent them out so they can pay themselves, then I want to refinance them through another hard money loan to use that money and buy a few more.
Is this a good idea ?
If not, what would be a good idea ?
I have been wanting to get 2-3 condos with a hard money loan, lender interest rates are at 14% on a 6-1 year loan term. I was wondering what can I do with those condos if I buy them with hard money loan ? I do know I want to rent them out so they can pay themselves, then I want to refinance them through another hard money loan to use that money and buy a few more.
Is this a good idea ?
If not, what would be a good idea ?
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