Over the pass few years, lenders have all pretty much cut of loans for investor purchase and rehab loans even though many of the lenders have received tarp funds to lend money but that another topic.
Anyway, gone are the days of easy underwriting and fast closings. Or so it seems. The truth is, there is still money available for the investor to purchase investment properties for both the commercial and residential investor. I am finding that more and more private equity firms are creating funds to invest in real estate projects offering purchase and rehab money. Many offer terms that are similar to typical hard money terms i.e 60% LTV 6-8 points 12 months term for commercial and 60-70% LTV 6-8 points with a six months term for residential.
In a time where capital to buy real estate is not as plentiful as it once was, tapping into these sources of funds maybe a great alternative funding solution.
For more information please check out my web site at http://www.directreoandmore.com or my blog http://getliquid.blogspot.com/
Kyle,
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