Good Hard Money Lenders??

Financing, Hard Money Lenders, Private Money
1

I am a new investor and own a few properties and recently quit my job to invest full time. i have no real income so i am going to need hard money to invest in fix and flips, etc… Anyone have advice as far as good hard money lenders to use. one company charges 30k up front for a 1 million dollar line of credit in a seasoned LLC with no requirements other than properties at 70% LTV or better. can i find better? my credit is good but getting worse as my debt to income ratio increases. any advice would be appreciated

2

Why in the world would you quit your job…you now have ZERO income.

3

Sorry but without an income coming in for at least 2 years as self-employed I do not know of anyone that can help you. I have to agree with Rich why, and you certainly do not have to answer this, would you quit your job. I do not remember who it is but someone keeps telling people do not start REI when you need the money and I happen to agree with them. Hey I have made my own mistakes so I am not going to preach to you but man do I wish you the best of luck.

Benjie

4

Bluemoon06 is the one that says that most frequently here. I have 2 jobs at present. I am buying my first property or two, that will easily match my part time income and I will quit that job. After that I will aquire properties until I can quit my full time job as well.

5

I am working on 12 sfh all on same block and owner, bridge loan to darn hard, with 100% owner financing for the first 5 years. This will be my first deal when it goes through. I am doing this to supplement my second job so I can quit it as well.

Benjie

6

So does anyone know of any good Hard Money Lenders in the New Orleans area?

7

http://www.reiclub.com/hard-money-lenders.php

8

what state are you located in? Sometimes the local lenders are better. Please advise in case I can suggest…

9

Rich: I appreciate your concern! Like I said, I don’t have any income, however that doesn’t mean I don’t have money saved. I quit my job because I hated it. I can go and get a job if I need to at any time, I’m not worried about that. What I am trying to figure out, is my orignal question: if someone knows of a good hard money lender to use, especially in socal. thanks

10

So does anyone know of any good Hard Money Lenders in the New Orleans area?

For rehab?

11

JTBONE:

I saw on REI website you are looking for hard money in New Orleans. I am not a hard money lender but am rehabbing houses in that area as we speak and may be able to help in some way. Actually I am an out of state investor looking for someone in that area to partner some deals. I had a partner that went away, and am now looking for a good one to do deals with. Are you in the NO area? I also have some hard money and finance contacts for the area. Email me back if you wish to talk about it.

Thanks,
David J. Daum
DaJo Properties LLC