I have come across quite a few deals in the chicagoland area. However, I am having challenges finding hardmoney lenders to fund these deals. Does anybody know of any hardmoney lenders that service the Illionis area?
Eric, this is a subject near and dear to most of us in Rehab. Easily put there are few hard money guys if any. There are companies such as Brookview Financial out of Connecticut. There are few more but have certain states they deal in. Better off long term setting up a corporate structure and build business credit, still not easy. I don’t think there are any lenders that will not require some skin in the game. And credit scores and debt ratios do matter more and more. If the Feds are true to their plan local community banks and credit unions may provide some lending to rehabbers and investors, good luck.