I'm looking at a few Condo’s and Duplex/Triplexes right now to buy & hold with tenants in them. Figure I’d unload them when the market turns. I'm having a heck of a time getting a traditional mortgage is it advisable to use a hard money lender? What are the up’s and down’s? I've read a zillion posts on HML's and im kinda on information overload at the moment and getting more confused lol. I have great credit and income but not a lot to put down so I figured with a HML I have a better chance of getting the loan and negotiating the terms.
I'm looking at a few Condo’s and Duplex/Triplexes right now to buy & hold with tenants in them. Figure I’d unload them when the market turns. I'm having a heck of a time getting a traditional mortgage is it advisable to use a hard money lender? What are the up’s and down’s? I've read a zillion posts on HML's and im kinda on information overload at the moment and getting more confused lol. I have great credit and income but not a lot to put down so I figured with a HML I have a better chance of getting the loan and negotiating the terms.
Thank you for looking