Hard Money

Financing, Hard Money Lenders, Private Money
1

My partner and I are new to the RE investign world and are just getting started looking for hard money. It seems that most of them are wanting to do credit checks and we thought that was the purpose of hard money was to not use your credit. Which is it?

Also, on a short sale deal where the repairs are very few will we do the lenders still lend 65% LTV?

Thanks to anyone that will help or can refer us to a good hard money lender that they have worked with.

2

I think more hard money lenders are starting to look at credit because they got stuck taking back properties when rehabbers couldn’t move their finished product. There may be some out there that don’t look at credit much, have you checked out the list on this site?

3

Thanks, I just saw the list on the site so I am going through those now and researching them. Thanks for your help.

4

Speak to Dave at this site www.investormoney.us/ he’s a straight shooter but they do have some guidlines that they appear to adhere fairly tightly to. But again he’s seems like a man of pretty sound integrity which is big. I haven’t done a deal with him yet but spoke to him last week. He’s sharp and helpful.

Good Luck

5

Thanks, we will start with him.

6

What kind of a credit score and DTI ratio would you be looking at?

7

You may also try www.gobignetwork.com. Lots of info there for startups

8

I just sent you an e-mail offline with all the details. thanks.