Where do I find hard money lenders and what are the Terms they most often want?
Anyone with Experience or Advice on this? ???
Wallace
Where are you located? I know that up here in ND it has been very difficult because #1 the distance and # I have not been asking for enough money. If you are in a Metropolitian area you should be in good standing. I placed an add in two major newspapers in the State and I have gotten limited responses. The add will be back in later this week. An ad was also placed in the REI classifieds and I have received a few calls on those. People have different goals and the people that called were looking for long term investments like apartments.
There are a number of Hard Money lenders that have adds for Investor Network ads and there are several in the Real Estate classifieds. I have tentative approval from several lenders pending the appraisal. The rates are a little bit higher than I would like but we are moving forward.
Goodluck!
NDI
Philadelphia area… 
Since you are in a good area I would put an add in the largest newspaper in the metropolitian area. “Investors wanted good return available and secured by realestate, call xxxxxxxx for details”. This is a simplified example, richmortgage broker had a better example on one of her posts. Keep in mind some of those investors will have a different idea of investments.
I want to develop the relationship with a good HML where I can buy properties with a line of credit. This will take time. There was one site that was selling a package on how to develop the HML in your area for about $195, but I have not researched that yet. We have been fighting and never giving up on financing for several months and things are finally starting to happen.
Best of Luck!
ndi
Thanks again… 