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My accountant called my bridge loan plan 'financial improv' last quarter
He said I was basically hoping the next act would cover the last one... so I switched to a hard money lender with a 12% rate and a six-month term. Anyone else get creative feedback that forced a total strategy shift?
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luna8197mo ago
Yikes, that's a brutal review from your accountant. Jumping to a 12% hard money loan feels like choosing a root canal over a scolding though. What's the actual plan to get out of that in six months?
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caleb2627mo ago
So you're just gonna hope the market goes up enough to refinance? What if your repairs run long or the appraisal comes in low, that 12% is gonna eat you alive.
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