biophase
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Can you go into this a little more? I would like to understand it a little better. I closed on a big foreclosure sfh a couple of months ago with a hard money loan, but I am looking to refi into a bank loan once I finish with the unfinished basement renovation.
I think what SteveO means is that you lend your money to people buying buildings that you want to own on the prediction that you will foreclose on them in the future and then own the building. Obviously you want to make sure that your loan to your future perceived value not to the current value is decent.