Hey the negotiation paid off!

I hope everyone had a merry Christmas and holiday!

I mentioned that I would be trying to renegotiate my hard money loans from 14%. I had been thinking about negotiating this but kept putting it off because I wasn’t sure how to go about doing it.

I finally approached to lender and we agreed on modifying the loan to 8%! We haven’t determined when the balloon will be. But, between the two loans that comes to a savings of $380/month or $4,560 per year! I am very happy about that and I am still working on separating the homes for tax purposes.

If any of you were in the same situation don’t be afraid to approach your lender!

Hope everyone is doing well!