jbeard1086 0 Report post Posted June 22, 2007 What could I do to find hard money lenders? Share this post Link to post Share on other sites
MichaelC 160 Report post Posted June 22, 2007 Local newspapers, real estate clubs, various boards around the internet, Google search, etc. I've seen numerous posts here in our funding forum from members who claim to be HML's. Contact a few and see what you find. Share this post Link to post Share on other sites
Xena 0 Report post Posted August 30, 2007 When offer is being submitted lender prequal letter is usually needed.Is it possible to obtain such a letter from hard money lender at the time when no contract been signed yet?They require to real estate contract to look at before they even want to talk.Any input is appreciated Share this post Link to post Share on other sites
MichaelC 160 Report post Posted August 31, 2007 Hi, Xena. It's been a long time! Hope all is well out your way.Most HML's are looking at one thing: the amount they are lending versus a conservative value of the property they are lending against. In case something goes wrong, they want to know they are getting value for their dollar. That said, if you show the deal to the HML, a fast decision should be forthcoming. Shop around and talk to several. Find one or two with terms you can live with and who you are comfortable dealing with. Explain your needs. If there is money to be made, they'll be cooperative. Share this post Link to post Share on other sites
EZLoanz 0 Report post Posted September 1, 2007 As a national rehab loan broker, I'm well versed in both the options available and procedures to secure prequalifications (known as POF or proof of funds in hard money circles). Feel free to contact me if you have any further questions. Regards, Scott Miller Share this post Link to post Share on other sites
silas 0 Report post Posted December 6, 2007 Hello,I have the same issue as well, where do I start? Regards Hi, Xena. It's been a long time! Hope all is well out your way.Most HML's are looking at one thing: the amount they are lending versus a conservative value of the property they are lending against. In case something goes wrong, they want to know they are getting value for their dollar. That said, if you show the deal to the HML, a fast decision should be forthcoming. Shop around and talk to several. Find one or two with terms you can live with and who you are comfortable dealing with. Explain your needs. If there is money to be made, they'll be cooperative. Share this post Link to post Share on other sites
jimculler 0 Report post Posted December 18, 2007 One of the lenders I broker to goes to 75% ARV, and works as a credit line. They dont need a property to get the client ready for financing. Once you are approved up to a certain line amount (up to 1 million), then you can get the pre-approval letter to get your signed contracts. Or you can just get a pre-approval from any random mortgage broker that brokers hard money. Either way is fine I would guess. Share this post Link to post Share on other sites
KevinAmolsch 0 Report post Posted December 28, 2007 I can provide those letter if you need them. Send me an email with you contact info and I will call you to talk about it. Happy investing. Kevin kevin@lassitermortgage.com Share this post Link to post Share on other sites
tansiworlds 0 Report post Posted January 6, 2008 Good day, i saw your ad.I am hard money loan lender base in the uk.I can be of help to you, For your financial freedom you don't need to worry no more. I really hope to hear from you ASAP. Best regards. Dr.Donald Duke donaldduke@dr.com Share this post Link to post Share on other sites
jimculler 0 Report post Posted January 8, 2008 Beware of anyone who emails you from the uk that does not use correct grammar. Share this post Link to post Share on other sites
MichaelC 160 Report post Posted January 8, 2008 Beware of anyone who emails you from the uk that does not use correct grammar. Not to mention capitalization and punctuation. Share this post Link to post Share on other sites
mpine 0 Report post Posted January 27, 2008 I have lenders that go anywhere from 60%-75% ARV, the real issue they have is with realistic property values. A lot of people bring me "great deals" that when I do my common sense research on are over valued by 10%-20% to begin with. So make sure when you do your numbers to first comp out the property and do not rely on the home seller to give you accurate home values. Mike Share this post Link to post Share on other sites
Adam King (MI) 1 Report post Posted February 14, 2008 I am a hard money/turn key lender if anyone is interested.Adamwww.ilocprogram.comwww.cooperativepurchase.com/las.htm Share this post Link to post Share on other sites
dbatiato 0 Report post Posted March 2, 2008 I have access to over 100 hard money lenders and private investors. If you have a need for a hard money loans feel free to contact me with any questions to the email address below I have lenders that will to loans to 80% of AVR, Loan to 85% on commercial purchases stated, HUD foreclosure purchases $100.00 down for qualified investors. Share this post Link to post Share on other sites
